I was looking at all of the homes for sale that feed into the Coyote Hills elementary school. My kids go to school there so these are all the homes around where I live. There are 135 homes for sale right now in this area. It is amazing how big of a disparity there is in what homes are listed for.
I am amazed at how many smaller homes with less upgrades are priced higher than the larger more upgraded properties. Overwhelmingly the smaller less upgraded home that are priced higher will only have one picture, or vague comments about the home. As a Realtor looking for homes for my buyer, all I can assume is that there isn't much good about the home and that's why there is nothing to show.
One particular thing you need to pay attention to is your competition. These are your neighbors. They are selling similar location, similar features, and similar size.
You must have a competitive price. You must be competitive for two reasons. If your neighbors home is pretty much the same as yours and are selling the home for a lower price, chances are they are going to sell their home before you. Also if your home is over priced you are eliminating a segment of the buyers that will even come look at your home.
When buyers are looking for a home they search for a location, a size, and a price. Buyers can only qualify for certain amounts and lending standards are tight right now. If your home is over priced you are setting yourself up for many months of disappointment and frustration. I know there is hope someone will walk in and fall in love with your home just as much as you love it. Or maybe you are thinking that you need some leeway in the price to negotiate down. The truth is that someone will pay your asking price if it is priced correctly. You don't need to negotiate down, it is your home. Ultimately the market determines the price anyway.
When you are sitting down with the Realtor you have decided to work with, remember to keep it real and make sure they are keeping it real too. (When you do list your home make sure your Realtor has at least six good photos of your home. Review them if you have to!)
If you need a place to search the Arizona multiple listing service without providing any of your personal information you can visit this Arizona real estate MLS search page. You can search for homes similar to yours to see what they are listed for. It's a great place to start.
Comments(1)