South Orange County Real Estate
pricing your home properly saves your money
Every seller wants to realize as much money as possible when selling their home. The natural inclination is to price the home high, thinking you can always come down in the future.
But a listing price that is too high frequently nets the seller LESS money than an original price at market value. Why is this? Because buyers looking for homes in your price range are very well informed by the internet and they will reject your home in favor of other homes they perceive to be a better bargain.
And here’s the real clincher: Agents who would readily bring buyers through your home will automatically cross it off their showing schedule because it’s priced too high and with the excessive inventory right now there are plenty of properly priced homes to look at. They will show homes with the highest probability of selling. If a home is overpriced agents don’t want to bring their buyers to the home get them excited about it only to find an unmotivated and unrealistic home seller who is unwilling to accept a market value offer. It’s a waste of everyone’s time.
So you price your home high, thinking you can come down. Problem is, the agent and buyer community don’t look at it that way. They see it as an overpriced home. After a few months go by and yet not a bite. So you decide to lower your price again. What you basically end up doing is chasing the market down. Finally, in order to attract attention back to your home, you’ve reduced your home price more than you ever thought you would, and you’re now netting much less than if you had priced it correctly in the beginning. And think about this: The money you lost is not just the lower sales price, but all the extra interest you paid on your mortgage…all the extra property taxes and other carrying costs that accrue while your home is waiting to sell. I’ve seen it happen time and again!
If you are thinking of selling your home and want a straight forward complimentary Comparative Market Analysis feel free to complete this form and I will email you your complimentary Comparative Market Analysis I have been a realtor specializing in South Orange County real estate full time since 1999 and can help you navigate the waters and get your house sold quickly and for the best price. Feel free to email or call me with any real estate related questions.