Pricing is directly related to marketing time a property and whether it will get sold. Pricing is important at all times but is particularly important in a buyers market. The following is advice on pricing homes to sell in North Carolina.
Take Into Account Market Trends
Every local market is unique. Whenever you hear information on television, those often relate to nationwide averages. Your specific city can be very different. Premier Realty will prepare a CMA which considers sales of comparable listings in your geographic area and provide an estimated price range in which your home could sell. This amount can change based on the season and recent sales, so avoid relying on old valuations.
Remain Realistic
When reviewing the market report, be aware that there is a range. Where your listing fits within that range is based on the competition and your target time frame. As a seller, it is understandable to have pride in your house and the work put into it. Unfortunately, not all home buyers will assign similar value to the upgrades. Anticipate that it is not often that you will receive back the full dollar value of upgrades. Additionally, property values can be affected by short sales in the region, which are commonly sold at lower prices but are nevertheless considered comparable listings. Market value is really the price that a potential buyer is willing to spend on a home during a particular time. It may not necessarily meet your target price or exceed what you originally paid for the property.
Pricing Homes To Sell In North Carolina
Listing too high will result in loss of time. If the market declines during that timeframe, the home will actually sell for much less than it would have if positioned fairly to start with. Also, home buyers tend to have a negative perception of listings with extended market times. This can be difficult to overcome even if a property reduces in price later. Pricing too high can be irrevocably damaging.
Some Additional Advice for Homeowners
If the current market value of your home is dramatically different than your expectations, it might be best to monitor the market and wait for prices to go up rather than overpricing and letting it grow stale for a lengthy period of time. If you have no option but to sell and need to do so in an exact period of time, choosing a price appropriate for the market and in line with other listings will be crucial to reaching your target date. Time is money and incorrectly pricing may be more expensive than you realize. For more tips on pricing homes to sell in North Carolina, contact Debbie Wilkes at Premier Realty.
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