Has your home been on the market so long that the For Sale sign out front has begun to rust
? At some point you probably began to ask yourself if your home may be overpriced for the market. Here are a few things to consider in order to make that determination before your For Sale sign completely rusts away:
1.Comparables Is your home priced right according to comparable properties? Comparable Phoenix Arizona homes that have sold recently can give you a great idea of how well your home may appraise. Active, pending Phoenix Homes for Sale give you a great indication of where the market is and what your competition is as you try to get that next buyer. Pricing considerably higher than the Active, Pending or Sold properties probably will impede a quick sale and extend your time on market.
2.Showings What kind of showings are you getting each week? Has it been a few weeks since you last saw a buyers agent in your home? If so, you are probably overpriced. A good sign that you are priced right is getting 3-4 showings a week from qualified buyers working with Phoenix real estate agents. Sorry, open house traffic and door knockers dont count.
3.Market Changes and Activity What is the market doing? Did the buyer tax credit expire? Whats new on the Phoenix MLS? Are there a lot of bank owned properties or short sale properties in your area? Does your area attract lots of first-time buyers or move-up buyers? All great questions to ask when deciding on how high or low to price your home.
4.Do you really want the truth? Many times sellers and real estate agents just are not able to be honest about how bad the situation is. Its usually far more useful to understand the realistic factors necessary to accomplish a goal than conjecture about what to do with lottery winnings. Assuming thats your position, ask your real estate agent for the honest truth: What list price does your home need to be at in order to sell in the next 30 days? Just be prepared for the answer!
Rather not figure this out on your own? Our Phoenix AZ Realtors would love to help. Give us a call today at (480) 776-5214 or visit us at www.ask4jamie.com