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Pricing Your Home in Today’s Market

One of the most important tasks a seller has is deciding the price of their home. Overpricing a home is disastrous for the marketing of a home and underpricing a home fails to get the seller what the home was really worth. Think of pricing with this fishing analogy. If you are always casting your hook too high or too low, you are missing the fish that you are going after.

A comparable market analysis is one of the best tools to help you know the value of your Johnson County home!  Make sure you look at the market stats for knowing the amount of homes available and those that have gone under contract will help you understand the absorption rate to know the actual market conditions. Of course reviewing the other comparable homes in your area also helps to give you a better idea of proper local home pricing. A professional realtor will review with you the homes for sale in Johnson County along with the homes that have sold to help to establish an ideal price.

Keep in mind, the first 30 days on the market is crucial for sellers. The first 30 days is normally when you have the most interest in the home!  Today’s buyers are aware of what is available on the market, so when a new property hits the market -they are wanting to view it!  Once your home has been on the market for over 30 days, buyers begin to question why a home has remained on the market. Overpricing your home causes buyers to look elsewhere and causes you to lose valuable new market time.

People generally search in a $5,000 to $10,000 price range. While every $1,000 only adds approximately $5 to $7 (depending on your interest rate) to each monthly mortgage payment. When the home is overpriced, even just $10,000 could mean losing a part of the market. Some of those buyers will never return, even if the price of your home gets lowered.  The home begins to be considered shop worn and buyers wonder what is wrong with it.

That’s why it’s so important to use a professional realtor who will be honest with you and help you truly understand the market conditions, counsel you on staging tips, and pricing it right from the start!  Remember, that the price of a home is not dictated by what you need, but what a buyer is willing to pay for it!

As you can see, there are many things to consider when selling your house sell in today’s market. Give us a call – we’ll help you review the market conditions and help you put your best foot forward!  Today – Experience and Market Knowledge Matters!

For more information feel free to contact the Cindy D Team. You might also be interested in downloading our free guide, 450 Ways To Sell Your Home Faster, or read more information about home staging.

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