Pricing Pointers
|
TOOLBOX
   Resize
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
Who's Blogging  |
Here are some tips on how to price a home you're selling:
• Don't base the price on what you paid or what your neighbor got a few years ago.
• Do examine the prices of homes for sale in your neighborhood, as well as the prices of comparable homes that have sold in the past three to six months.
• Don't pick an agent simply because he or she suggested the highest list price.
• Do pick an agent who offers a thoughtful explanation for the price he or she is suggesting.
• Don't go overboard with remodeling. Rarely can you recoup the cost.
• Do make minor improvements so that your home is in as good as or better shape than the competition.
• Don't set your price based on emotional attachments and cherished memories.
• Do ask your agent to reassess the competitive landscape every few weeks to make sure your asking price is in sync with the market.
• Don't be stubborn. If weeks go by without any offers, the price most likely does not reflect the value of the home. It's time to consider cutting the price.
• Do be patient. You might have to wait longer for buyers to pull their money together now that lenders have toughened their standards.
