Prescott Real Estate- PRICING YOUR PRESCOTT HOME TO SELL
December 15th, 2008 categories: Home Buyers, Home Sellers, Prescott Real Estate Trends
If you are a home seller today, your competition is fierce! You’re not only competing with bank owned properties, short sales, other homes in your neighborhood but the negative news media as well. Many homes in Prescott have been on the market all year, some longer.
Does this mean that homes aren’t selling? No. Homes are selling and if you want or need to sell your home in a timely manner, putting the right price tag on the property has never been more important than it is today.
In the Prescott area, home buyers have 20 to 25 comparable properties to look in any given price range, and when making a decision on what home to write an offer on it usually comes down to one thing, price. Buyer’s are purchasing homes that offer the most and cost the least, and your home may offer the most, but if it also costs the most, it may be on the market for a long time.
Here are some thoughts on pricing your home Prescott home right!
It’s important to be ahead of the pricing curve. If your Prescott home is priced well from the beginning, the chances of your home and a qualified buyer meeting greatly increases. If your home is overpriced, qualified buyers move on to the next property and you end-up chasing the curve downwards with price reductions. In some cases, it’s too little too late, you’ve missed your prime selling opportunity and the listing becomes stale.
Study recent sales. This is the starting point for any thoughtful and successful pricing strategy. Take the time to study past sale statistics for homes in your area similar to yours.
Do not confuse active listings with closed sales. Active listings have not sold, they are just your competition.
A “buyers market” is not the time to test the waters. If the market is appreciating, this strategy may work, but in Prescott’s Real Estate as of December 15th, you may quickly find yourself chasing the market and costing yourself money.
Leave some room for negotiation, but don’t overreach. No seller wants to feel he or she left money on the table, and no buyer wants to overpay. Your price should give both parties room to maneuver, but if it is too high, the buyer may perceive it as unrealistic and move on to the next property.
Don’t make a career out of selling your home. Call us for a comprehensive, honest price evaluation of your home.
928.778.4492 or e-mail us at info@thehuffmangroup.com.
