Joanna Jackson
Are you getting any showings? If not, this is one of the number one signs that your home may be overpriced.
Are you getting a lot of showings, but no offers?
Did you choose the price of your home or did you price it based off of your Realtor’s advice?
Did you price your home based off what other homes are currently listed at, instead of what homes have sold for, recently?
When determining a price, did you consider the recent sold homes that are similar in size, age, condition and location?
Did you consider that values have lowered in recent years and you can’t base your price off what a home sold for in your neighborhood several years ago or an older appraisal?
Did you price your home based on how much you have spent on home improvements and/or general maintenance, during your ownership? Maintaining and home improvements can’t always be recouped.
Article prepared and submitted by Joanna Jackson, sales manager/associate broker with Jackson Realty.
I opted to go with another realtor and dropped my price; in 4 months I had two showings and the second was a purchase.
4 Bedroom, 3 bath split foyer with finished basement and a 2 car garage.
1st price set at $134k, second price was $129k, sold at $124.5k. I owed $105k
I found out that many realtors will push for a short-sell near the end of their contract. They will get their commission and a "sell" they can tout on their resume.
The second realtor was easy-going, told me about the market, gave me all possible options and allowed for the market to work the price.
In the end, the family that purchased my home was looking for the size, condition, and convenient location of the house.
Sure, if you drop the price low enough, a buyer would get a bargain. I was looking to make money out of the 5 years I invested into it and succeeded.
I suggest if you have the time, do not worry about how long it sits, It costs nothing to have a contract with a realtor and just because it sits awhile does not mean it should sell for less unless there is a problem with the house or you do, in fact have the price too high for your area. Make your home appealing by making sure your home is tidy, fix any problems inside and out, and let a yard professional suggest any planting to make your home inviting to look at.
Some people will pay a good price to have a nice looking home, or one they can feel at-home in when they walk in the door.
Listen to your realtor(s) and make sure they working for you, not off you.
I am not an expert, this was just my experience. I hope it can help!