Southern Indiana Real Estate © 2007
Contact AgentPaul Wonning 812-756-5447 Cell pwonning@northstarrealty.cc
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Southern Indiana Real Estate © 2007Contact AgentPaul Wonning 812-756-5447 Cell pwonning@northstarrealty.cc |
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Toys, Hobbies and Crafts Little Toy Planes Gardens & Nature Hoosier Hurricane Hobby Hobnob Abes Beer Garden |
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Pricing Your Home Correctly © 2008Pricing your home correctly is very important. One popular strategy is to price a property high at listing time, with the idea that the price can always be lowered. But this may not be the best strategy for selling a home. The most critical time for your home on the market is the first two to three weeks. At this point, your property is still regarded as a new listing and everyone is looking at it, buyers and other real estate agents. If it is priced too high, many will move on to the next listing, ignoring your property.After this critical time has passed, interest in your property drops in favor of the continuing flow of new listings into the market. At a later point, you then decide to reduce the price. This move indicates to buyers of homes that you, the seller, is becoming desperate and is willing to deal lower. This may lead to "lowball" offers and further delay in selling the property than a correct pricing in the first place. The best strategy is to put the correct price on the property initially, when interest in it is highest. To arrive at the correct pricing for your property, I will run a market analysis of homes similiar to yours in your area. The market analysis will include properties which closed two to three years ago, homes currently on the market, homes which are pending (sold but not closed) and recently sold. This gives me an idea on what prices are currently doing in your area. If prices are trending downward, it is important to not have too high a price, because by the time corrections are made to the price, values will possibly have fallen further and you will have to take less than what the property could have sold for when originally placed on the market. If prices are rising, this can be an indicatator that a higher price may be gotten for the property than a normal market analysis may show. If prices are stable, then this indicates that the price indicated by the market analysis is the best one. As a seller, you must look at your home through the eyes of a buyer. You must realize that your property is competeing against many similiar properties currently on the market. You must price the home correctly with this in mind. |
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