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!
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 in reality nothing was wrong, the price was just too high!
Bottom Line
If you are thinking about listing your home for sale this year, let’s get together to properly price your home from the start!
Author: Monica Foster
"Love your work and you'll never work a day in your life" . . . for me, that statement says it all. I love what I do, helping others achieve their real estate goals with honesty, integrity and responsiveness. I am not just a real estate agent, I am a BROKER Associate, Certified Residential Specialist, Accredited Buyer Representative, Certified Home Marketing Specialist, Certified New Homes Specialist, Certified Distressed Property Expert, and Certified Negotiation Expert with RE/MAX Space Center and a REALTOR® - a member of the National Association of Realtors (NAR). This means I work to a higher standard of education and professionalism that translates to an extra level of service for my clients. I closed over 100 transactions in 2013 and have received the Five Star Real Estate Agent award, a honor bestowed upon 7% of area realtors. Also, I have been featured in Forbes Magazine, Top Agent Magazine, Homes and Land Magazine, and I received the RE/MAX Hall of Fame award for career production. I also like to give back to the community and help others. I am a frequent contributor and sponsor for various charities including the Homes for Heroes Foundation, Communities in Schools Bay Area, March of Dimes, Children's Miracle Network, Kid's Wish Foundation, Susan G. Komen Foundation, Happy Hill Farm Academy, and the Make-A-Wish Foundation.
