Depending on the amount of time your home has been on the market, you may be wondering if your home is overpriced. Price definitely remains a huge factor in determining how fast a home will stay in our current market.
- Your home has been priced according to surrounding homes for sale opposed to those already sold.
- Inspite of the obvious fall in the market in surrounding areas, you feel it won’t affect your home sale.
- Your home is priced based upon home improvements you made.
- An old appraisal (3 months or older) was used to base your selling price.
- You feel your home has “character” and/or is “unique” despite its similar age, size and condition to other homes in the area, therefore deserves a higher price.
- You feel the longer your home is on the market, the more opportunity it gives for the right buyer to come along who will be willing to pay your asking price.
- Although you have held several showings, you’ve yet to have an offer.
- Your home has been on the market for 6-12 months….maybe longer!
- You couldn’t come to an agreement with your Realtor on price therefore they refused to list your home leaving you on a search to find someone who would.
- You are getting NO showings. Once you have marketed your home for a showing and are still receiving no interest, the price and your home have been “rejected” from the market. This is the number one sign of an overpriced home.
All of these reasons could waste you valuable market time. Think carefully, study the comparables and most of all listen to your real estate agents suggestions and advice.This article and more was found on Realtor.com. Great advice for all! Check it out.