The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:
houses in your price range and area that were sold within the last half-year
asking and selling prices of houses
current inventory of houses on the market
features of each house on the market
From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic. Understand and set your price to reflect the current market situation.
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Linda and Dave were excellent in several areas with the sale of my home. This included communications, market knowledge and getting the job done. They always returned calls promptly.Ann B.
This note is to let you know how much I appreciated working with you over the last 5 months. When I was selling my duplex you showed me information about the market that I was naïve to. When the buyer was dragging his feet, you said the appropriate words to get him going. During my search for a replacement property you were extremely patient. You spent many nights at the office until 8 p.m. When we finally found the perfect deal you were quick and stealth like. We had the property tied up before most people knew the property was available. Then there was all the paperwork before closing. I would have most assuredly gone mad if you were not there to sort things out. I appreciate all the work you put in to make these deals work. I look forward to working with you in the future.Pete F.