This weeks caller said. I want to list my house higher so that when a person makes an offer. I can negotiate and get close to what I want.
That is an option, however not one that I typically recommend.
Here is why:
- Home buyers today are savvy and can immediately spot a home that is overpriced.
- Chances are great, no matter how nice your home is, you will not get an offer.
- The sad truth is real estate market doesn't care what you want.
- That said your timing and condition will tell me is that is even remotely possible
- If your home is totally upgraded and in outstanding condition, and decorated to appeal to the fussiest of home buyers you may have a shot. (Let's talk)
This graph below will continually update. However today, I as write this blog post you can clearly see sellers get their best prices during the spring market. On average for the past three years sellers get around 96.5% of the list price when listing at Fair Market Value.
Spring Market in the Prince William County Virginia area runs from March 1st through May 15th or so. During that time annually we see home buyers who are relocating to Virginia come make their selection, negotiated for a home and are back home packing for the upcoming move. Military folks with PCS orders that read Fort Belvoir, Marine Base Quantico, Navy Yard and the Pentagon have come and gone as well. They typically arrive during the spring break weeks. They select online from the homes that are in their price range. So if you home is above market fair market value, chances are the prospective home buyers who you hope to attract will not even look at it. These folks who are relocating, do not have time to play around and negotiate for days on end. They are here for one week. They arrive, hit the ground running with a local real estate agent and see everything that peaks their interest within their budget. If a home is overpriced, looks to high based on the others...to them it's not worth the fight or the drama. They need to speak with serious sellers who want to sell their homes.
There is a difference between Listing your home for sale, and Selling your home. The good news is you get to choose which way you would like to do it.
Fair Warning. When it is time to sell, try not fall into the trap of listing high. Work with a local Woodbridge Virginia REALTOR® who is going to help you price your home correctly.
"The last thing you want to do is list high, sit on the market during the spring market and then be forced to lower your price when the spring rush of buyers is over and gone." (refer to the 3 year graph above)
Don't do it. It could cost you dearly!
Interview a few REALTORS®, make sure you get a feel for what Fair Market Value is. I would like to be one of those that you interview. I have systems in place, and a marketing plan that will help you get TOP Dollar for your home. Contact me now.
PS: No obligation and you do not pay me a dime unless I get your home sold!
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