Drive through your neighborhood, how many For Sale Signs do you see? How long have they been on the market? There could be any number of reasons that a home has been on the market for a long period of time. But, many times it is as simple as this: Price.
When your Realtor comes to your home, he/she will come armed with comparables of similar homes that have recently sold, are active and have expired in your localized area. These studies are done for a very good reason. Price is about a method of specific calculations. These comparables (or "comps" as they are often referred to) provide very specific information as to where your home should be priced in order for it to sell in your CURRENT market. The selling price is, of course, up to you. But, putting a price on your home because your neighbor sold their home last year for that price is not going to work now. Your home will, most likely join those homes with signs in the yard for months on end. Your Realtor will suggest a price range that fits that criteria that the comps support. Do you HAVE to list within that price range? Of course not. But, ask yourself the question:
Do I want to be actively ON the market or just have a sign in my yard?
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