Is Your Home Priced Right?

Having your home priced right initially is crucial in today's market. Pricing too high to begin with can be a major dealbreaker. This is where a professional can come in very handy! You need to be analyzing pending contracts just as much as closed deals to see what prices per square foot have created buyer incentive on those homes under contract. It is hard to put emotions aside especially when your home carries so many personal memories. However the market, not your emotions, needs to determine your sales price. Again, this is where a professional can help balance market realities with your financial needs. One of the biggest keys to a quick sale in this market is to be priced very competitively compared to similar homes. You should have your home priced within the top 2 or 3 homes that come in close comparison with yours. Remember your objective is to get your home sold. Your agent should be revisiting values with you every 30 days to make sure you are priced right compared with your competition. It is suggested within the industry that a price adjustment should be made if 8-10 showings has not yet produced an offer. Basically, you should not consider your agent a "bad guy" who constantly just wants to drop your price. If your agent is doing his/her dudiligence, there should be some good data to back up a price change.