My previous post was all about pricing vs. competition. There is competition between both buyers and sellers separately. Sellers have to compete amongst themselves as do the buyers. Both groups have completely opposite goals. Sellers want the highest possible price for their homes and buyers want to pay as little as they possibly can. Who's right? Both groups! That is real estate at its most simple form.
The reality of it is that buyers could really care less about how much money you want for you house. To them, your house is only worth what THEY are willing to pay for it, and that where the term "market price" comes from.
Appraisal are fine, CMAs are fine, and the most used phrase sellers use is "well I paid X thousand dollars for it." I don't mean to sound insincere, but again, no buyer cares about any of them. The best thing a seller can do in a competitive market the the one we are in, is to weigh very heavily the CURRENT LISTINGS that are similar to theirs. Buyers are going to go through a sold comp and agree that the houses are similar and be willing to pay what you are asking! They go through the ones that are on the market now, and then decide which one to make an offer on. Make your home show well, and make it priced more attractively that your competitors and you see promising results.
Until next time, I hope all is well!
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