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How Much Does Price Affect My Home Sale? | Fridays with Fred

By Fred Sed

Real Estate Agent with Fred Sed Group ~ Your Premier Southern California Realtors CA BRE #01423187

April 07, 2017 08:00 AM

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How Much Does Price Affect a Home Sale?

After 13 years of running a brokerage business in Southern California, we can tell you without any doubts that the price of a home does affect everything with it comes to ultimately getting a sale or not.

If you’re planning on selling your home but aren’t sure if you should price it higher to take advantage of the demand for Real Estate in SoCal or price your home for what it’s really worth, this article will provide you with information on how the price of your home will affect the sale.

If Your Home Is in Perfect Condition…

Let’s say that your Southern California home is in perfect condition, has many great features including an updated kitchen, bathrooms, landscaping and it’s also in an excellent location, if you overprice your home you risk having it sit on the market for a lot longer than you originally expected it would.

Besides having your home sit on the market for a long period of time, you also risk receiving “low ball” offers from some buyers, and unless you want to take your home off the market, you may ultimately be faced with selling your home for far less than what it’s worth.

If Your Home Is in Less Than Perfect Condition…

We’ve talked about what you can expect if you overprice your home if it’s in perfect condition, but let’s talk about what to expect if your house is in less than perfect condition.

Even if your home is in less than perfect condition, in this scenario you can also expect to sell your home for less than what it’s worth if you overprice it, because, most buyers these days have the power to get an idea of what your home is worth immediately simply by looking up your home online and they will be less inclined to pay more for a home than what it’s really worth.

What Else Can Affect a Home Sale?

Besides setting the right price for your home, some of the other factors that will affect your home sale include:

Your agent's marketing approach – Marketing is vital in 2017 because you want your home to be found by buyers all over the world, not just buyers in SoCal or the United States.
The condition of your home – Your home should be in the best possible condition because minor repairs or condition issues are likely to stop some buyers from submitting offers on your house.
Decluttering and staging your home – These are two of the best things that you can do to your home before listing it, especially if you want to give yourself the edge over other sellers in the area.
Time of the year – Yes, time of year is a factor, even in Southern California, because, you may get more interest in your home during the Spring and Summer months versus listing it in the Fall or Winter so it’s important to think carefully about the time of year that you want to list your home for sale.