How Do I Know If My House Is Priced Right?

Real Estate Agent with The Pamela Madore Group 573760

Pamela Madore
The Pamela Madore Group

How Do I Know If My House Is Priced Right?

If it sells the first day.

Recently, in Denver, a house went on the market and on Day 1 there were 70 showings and 25 offers. Denver is a seller's market right now and Amarillo is moving in that direction--maybe not as drastic.

There are several things that come into play when pricing your house and, unfortunately, those things are a moving target.

If you don't have a signed contract within 3 weeks, you are probably overpriced. As a Realtor I do not have a crystal ball.  All I have are the current statistics and trends.

No matter how frustrating it is, THE BUYER SETS THE PRICE.  

We have some cookie-cutter neighborhoods that are quite easy to price and be close.  We have other neighborhoods that are almost impossible to price.

So the #1 problem we all have is pricing.  History is not always the future.

How important is "gut"?  

I have taken a few classes on appraisals and one of the things that I learned is that appraising is both a science and an art.  The science are the facts and the art is the "gut".  There is value in "gut"

Have you ever been into two stores that have pretty much all of the same things but one is more appealing than the other.  You can't really put your finger on why but it is there.   Maybe the lighting. Maybe the color of the floor. Maybe the layout of the aisles.

Buyers are the same.  Sometimes they just can't put their finger on why or why not.  

So the price can be a moving target.  Buyers are fickle.  We all know that if the price is low enough someone will buy it.  

In the last week our Multiple Listing Service has added 108 new listings. There were 115 put under contract.

Feel like selling?  This is the time.

Call me today for a free analysis on what your house is worth today.

Specializing in finding buyers for our sellers.
Pamela Madore

Keller Williams Realty

3955 S Soncy Amarillo TX 79199


Posted by

Pamela Madore
Pamela Madore
The Pamela Madore Group 
Keller Williams RealtyAmarillo
3955 S. Soncy
Amarillo, TX 79119

806-290-1920 Cell




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Alan Grizzle
Chestatee Real Estate - Dahlonega, GA
Full Time Realtor, Lifelong Resident of Dahlonega

I would be looking for listings if I were you. Our market is picking up but nothing like that.

Apr 02, 2015 10:40 AM #1
Dan Tabit
Keller Williams Bellevue - Sammamish, WA

Hi Pamela, 

Great post. Pricing is so important.  Buyers won't even find a home that's right for them if it's overpriced and when the price comes down, it will look like aged merchandise, so they may ignore it.  

Apr 02, 2015 10:41 AM #2
Troy Erickson AZ Realtor (602) 295-6807
Good Company Real Estate - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Pamela - Sounds like a great time to be selling in and around Amarillo, TX. Everything sells if it is priced right. Some might say if a home has 25 offers on day 1 that it is priced too low. That is the moving target you spoke about.

Apr 02, 2015 02:28 PM #3
Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239
Real Estate One - Commerce, MI
Michigan homes for sale ~

I am glad it is a good market in your area.  We have a good market going.

Apr 06, 2015 11:14 AM #4
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