"Have you ever wondered what it takes to get more showings and to finally seal the deal? If your home has been lingering on the market for months, you might be asking yourself just that question.
This question is more than just idle curiosity. When and how quickly you sell your home can mean the difference between buying the dream home before it's scooped up and avoiding carrying two mortgages.
There is an old adage used in real estate that says, “location, location, location.” While location is important for certain reasons (close to schools, crime levels, neighborhood appearance), there is something is far more important when it comes to making a deal. The new adage should be “price, price, price.”
You can sell any home if it's priced to sell. Pricing right is about more than just pricing along with the competition. Sometimes it means listing at a lower price to make your home more attractive. Of course no one is willing to let someone just walk away with their home, but in a strong buyers market like we have today you must be realistic about what price will truly entice a buyer.
Experts say that if you overprice a home at the start you're making a big mistake. Buyers look for new listings. They'll pass right over your home if it doesn't compare to the competition. They could also see your price reduction laster on as a sign that you are willing to go even lower on your price.
This is not to say you shouldn't do a price reduction. If you already have your home on the market then you should consider if a price reduction will bring in buyers. An overpriced home will never sell in today's market. There are simply too many other good deals out there." [Read more]
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