Is The Price Right?
So if your selling strategy is to set an unrealistically high price in hopes that someone will bite, rethink your strategy. “Homes that are overpriced will generate no offers, no negotiations, no sale,” says Supple. What it will do, however, is drive potential buyers into the arms of the competition — other, similar houses that are on the market at more realistic prices, which means that your property could sit unsold for a long period.
Homes that are on the market too long become “shop worn,” leading agents and buyers to conclude that something must be wrong with the property. Set your price too low, on the other hand, and you’ll leave a pile of money on the table. But price it right and it should sell quickly regardless of market conditions.
So how can you figure out the right asking price? Fortunately there are resources available to you that will help you determine the fair market value – the FMV – for your home, which is what a buyer is willing to pay you and you, the seller, are willing to accept. One of them is a comparative market analysis. It’s a written analysis that compares your house to others like it in your area that sold recently or is on the market in your neighborhood.
A comparative market analysis will give you factual information about the houses: Number of bedrooms and baths, square footage, such amenities as fireplaces and swimming pools, as well as the listing prices and the sold prices. Getting a comparative market analysis for your home is very easy. All you have to do is call Spencer Woods. Spencer Woods will happily come to your home and generate a comparative market analysis and suggested listing price. It’s all part of the service Spencer Woods provides.
The real secret to setting the very best sale price for your property is to ask Spencer Woods!
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