When you search homes for sale, you will always see homes listed at $149,900 or $249,900. Why is that? Do you think the home is a deal because it is priced below $150,000 or $250,000?
I am guilty of this myself. In the past I would price homes with this strategy or at an odd price like $148,874 to make it stand out.
I started to think like a buyer and I just recently started pricing homes at an even number. For example $150,000. When do buyers search for homes under $149,900? I am going to guess never. They put in an even number. Some websites only allow you to search by a predetermined drop down box. Buyers may also put in a minimum price range when they search. (Homes between $150,000-$200,000)
So if you price your listing at $149,900 and a buyer puts in a max of $150,000 your listing will show up in the search. It will also show up if you price it at $150,000.
However if a buyer searches between $150,000 and $200,000 your listing at $149,900 will not show up in their search. If you price it at $150,000 it will show up in a buyers search.
Are you curious on the value of your home? Go to www.YourLocalHomeValue.com fill out some information about your home. Then you will be sent a computer generated report for your area. (sorry south central/Milwaukee wisconsin area only)
Here is the first blog post on pricing
http://mywisconsinrealestateblog.com/channels/home_selling/topics/pricing_your_home_in_todays_market
Brad Koenig
www.YourLocalHomeTeam.com
First Weber Realtors
262-719-7393
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