Thinking of selling your Barnegat home? Are you wondering how to price it to get the highest amount and sell quickly?
If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.
In today’s shifting real estate market, where more inventory is coming to market and home values are projected to appreciate at lower rates, homeowners will not be able to price their homes as aggressively as they were able to just last year.
They will have to employ the same strategy: be the closest without going over!
As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search!
According to Forbes Magazine: Nothing kills a real estate deal faster than an over-priced property. Don’t let your ego factor into the listing price. If you have chosen a strong real estate agent, then trust them to guide you to the appropriate square footage cost. This is not to say that you shouldn’t participate in the price decision. Choose a price that will get motivated buyers into the door quickly. If you price your home aggressively you may even create a bidding war and drive the overall sale price up to where you wanted it to be in the first place. If you and your agent can’t get comfortable with a number that works for you, perhaps you should sit tight and sell later.
Over the last six months, more inventory has come to market while the months’ supply of inventory available has dropped. This means that the demand for homes to buy is still very strong throughout the country!
Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when nothing was wrong, the price was just too high! One last note on price—buyers are more educated than ever these days so if you are going to ask for a premium over what your local square foot average is, your house better be perfect.
If you are thinking about listing your Barnegat home for sale this year, let’s get together to properly price your home from the start!
Karl Hess provides expert real estate services to residential buyers and sellers in Barnegat and the surrounding communities. Contact us today for more information on Barnegat Real Estate and for professional assistance navigating this complex home market.
As always, thank you for your time and feel free to get in touch if you have any questions. Karl Hess, Your Realtor on The Jersey Shore in Ocean County