The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:
houses in your price range and area that were sold within the last half-year
asking and selling prices of houses
current inventory of houses on the market
features of each house on the market
From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic. Understand and set your price to reflect the current market situation.
We are Dick Stanton Real Estate in Vernon, New York and We're a 'Hands-on Realtor'. We believe in serving our clients by being courtesy, professional and knowledgeable. We work closely with You, and all who have a voice in the Real Estate World. They include other Realtors, Attorneys, Financial Institutions, Home Inspectors, Contractors, Appraisers, Surveyors, Code Officers, Well inspectors, Septic Inspectors, Radon Testers and Mitigation personnel. We are your personal contact, not a computer voice. We are proud of the work we do everyday by staying close to our clients and contacts. You have a real person to talk to and so do we. That's us, a 'Hands-on Realtor'. We are Dick Stanton Real Estate in Vernon, New York. I am Richard Stanton, The NYS Licensed Real Estate Principal Broker, Owner and Founder of Dick Stanton Real Estate with 30 years experience in the Real Estate World. Please feel free to contact us anytime.