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How Do I Know If My House Is Priced Right?
Pamela Madore
The Pamela Madore Group
How Do I Know If My House Is Priced Right?
If it sells the first day.
Recently, in Denver, a house went on the market and on Day 1 there were 70 showings and 25 offers. Denver is a seller's market right now and Amarillo is moving in that direction--maybe not as drastic.
There are several things that come into play when pricing your house and, unfortunately, those things are a moving target.
If you don't have a signed contract within 3 weeks, you are probably overpriced. As a Realtor I do not have a crystal ball.  All I have are the current statistics and trends.
No matter how frustrating it is, THE BUYER SETS THE PRICE.  
We have some cookie-cutter neighborhoods that are quite easy to price and be close.  We have other neighborhoods that are almost impossible to price.
So the #1 problem we all have is pricing.  History is not always the future.
How important is "gut"?  
I have taken a few classes on appraisals and one of the things that I learned is that appraising is both a science and an art.  The science are the facts and the art ... more

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