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SELLING a home in today's market

By
Real Estate Agent with American Homes, Real Estate
With record high inventory, Sellers cannot afford "Seller Denial."  Pricing can no longer be judged on what a neighbor's home sold for six months ago.  Additionally pricing cannot be based on the many/additional upgrades you may have to offer.  Today's home buyers expect upgrades.....which can definitely benefit in the sale of a home, but are not adding thousands and thousands of dollars to/on top of current sales prices.  If you truly need to sell your home, you must be priced properly.  Comparing your home with other nearby homes that are on market, (trying to match their pricing), is not an indicator of where your pricing needs to be if those homes have been on market for some time and haven't sold.  Make of best of your offering.....price right, throughly clean and de-clutter, spruce up the curb appeal, paint the home's exterior, as well as interior if needed, make your home convenient for showings, and consider offering Buyer incentives......such as closing costs.  (NO DOWN financing has largely disappeared and many potential Buyers may be short on cash when it comes to closing costs).  Try to put yourself in the 'shoes' of a Buyer......whose comparing your home with dozens of other homes.  They will quickly learn the actual comps/pricing of the homes comparative to yours, they will most likely want to know how long your home has been on the market, and they will come to a conclusive price range that they're willing to pay.  If your home is overpriced it will not sell, it will not appraise, and it may very well be used as a "Bouncer" home, making other homes priced lower look better than your home!  If you're serious about selling.....Price Right.  On the otherhand, if you're not serious, not motivated, nor needing to sell.....you'd be best to wait until market conditiions change.  (this is not a time to "test the waters")  Obtaining the professional guidance of a knowledgeable Realtor is a must......you will be provided with the most current comparable prices.  You may even consider hiring an independent appraiser, paid to give you a price evaluation.  Remember, correctly priced homes ARE selling.....and so can yours!