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Archive for November, 2014

VIDEO: The dangers of overpricing your home

Friday, November 28th, 2014

When you list your home and ask for more money than it’s worth, no one will take a look at it. When you look at the $600,000-$850,000 price range last month, only seven homes sold out of a supply of 300! We guarantee the seven homes that sold were priced at a fair market value. The homes that sit on the market for a long period of time are asking for too much money.

It’s critical to know the market statistics and where your home needs to be positioned so you can price it correctly. As a buyer, on the other hand, you also need to do your market research. If you want to get your dream home, you need to make an offer that’s fair. It’s no longer 2010, where buyers were able to get up to 20% below list price. You need to be educated enough to know when a lowball offer is appropriate.

If you’re selling, especially in the high-end market, you need to take every offer seriously. Buyers know they have a lot to choose from, as more than 250 homes in the high-end market failed to sell last year alone! Often times, buyers will throw a number out to try to get a reaction. You can either make a small counter to show that you’re open to working with them, or go back to the buyer and tell them you’re serious about selling, but you need a more serious offer before considering a counter offer. We encourage you to make a counter offer, because there just aren’t many buyers in the high end-market right now.

Thanks for stopping by our blog. We hope you found this information helpful. If you have any questions or topics you would like us to discuss in a future, please give us a call or shoot us an email. We would love to hear from you!