In our Team Meeting this morning we crunched some numbers for mortgages. Our average sales price of a home here in King County WA is around $325,000. To buy a home for that abount of money you have to make around $6000 a month or $72K a year.
Now I know of 3 homes for sale on the same street. One is priced at $450K, one is priced at $399K and the 3rd is priced at $379K. Which one would you buy? They're all around the same square footage (give or take 200), they were all built at the same time. I think its obvious without even seeing the inside.
Sellers, if you want your home to sell quickly you must know the market. In today's world your home must be the best priced and in the best condition....period. Now you could price a little high and see what the market does (ITS GOING DOWN....) and take less money. The prices are not going up. So to get the best price for your home TODAY you must price it right.
In our area the average income per household is around $75K a year. What kind of house would this family be looking for? Something around $325K-$350. We're not looking too bad...