Want To Sell Your House? Price It Right.
Due to increasing mortgage rates, the housing market slowed down last year, which had an effect on property values. If you're considering selling your house soon, you should modify your expectations in line with that. As explained on realtor.com:
“. . . some of the more prominent pandemic trends have changed, so sellers might wish to adjust accordingly to get the best deal possible.”
In a more balanced market, how you price your home will have a significant impact on both your bottom line and the potential speed of sale. And the truth is that in today's market, houses that are priced fairly continue to sell.
Why a Fair Price for Your Home Is Important
Your asking price conveys a message to potential buyers, especially in today's market.
If it's priced too low, you risk losing money or discouraging purchasers who could see a lower-than-expected price tag and question if the house has a problem.
Price it too high and you run the risk of scaring away potential customers. When that occurs, you might need to reduce the asking price in an effort to rekindle interest in your home after it has been sitting on the market for some time. Be mindful though, as some purchasers may interpret a price reduction as a warning sign concerning the property.
Price it accurately from the beginning to avoid either headache. An expert in real estate knows how to choose the right asking price. To determine the right price, they weigh factors like the value of nearby properties, current market trends, buyer demand, the state of your home, and more. This increases the chances that you will receive stronger bids and that your home will sell more quickly.
The illustration below summarizes the potential effects of your asking price:
To sum up
Homes with current market value pricing are still selling. Let's connect to ensure that you accurately price your home, maximize your sales potential, and reduce your hassle.