subject: Listing Your Home: What's Too High? [print this page] Selling a home presents many issues to the homeowner and the listing price is one of the biggest. Although you want top dollar for your home, not listing your home too high is important. Whatever your reasons for selling- possibly there have been new additions to the area that have increased property values and you are wanting to cash out while the market is high or you simply have out grown your home, or are curious as to what you can get for your home. There are many reasons to sell a home and whatever your reason
You must realize setting the price of the home is important. You want to ask a price that people will pay. It will be necessary t get comparisons of other competitive homes in the area and see what they are being listed for. Should you list too high, you are becoming your own worse enemy. Even if you can wait for a while for the offer to come in. The longer the home is one the market, the higher the chance of buyers to think that there is something wrong with the property. Buyers will concern themselves with the possible reasons that the home has been on the market so long. And, you likely are not wanting to wait a long period to sell your home. There are many reasons not to list the price of the property too high. It is risky and selling the property becomes difficult.
Many buyers justify their reasons for listing the home at a higher value than comparable homes due to upgrades they have performed on the property. This seems logical and seems to make sense. However, unfortunately for the sellers, most buyers enjoy and would prefer to make the upgrades themselves and not pay the higher dollar for the home that has had them done. Therefore, it puts the seller right back with he competition. As frustrating a situation as this may be, it is the way of the market and it can leave you in a risky situation should you not decide to be competitive. With a few minor changes
Many buyers can purchase the lowest priced home and fix it up. Making their gain much more significant. If you already have your home listed at the top of market values and are finding yourself with not many prospects, then consider researching your market and make your own conclusions. The middle of the market is best to maximize profit. Speak with your real estate agent and have him help you to reach a price that you are comfortable with.
