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.
I recently bought property in Pamplico with the help of my agent, Bob Crosby. I wanted to share how very professional, personable, and very helpful Bob has been. Living 500-miles or so away from the area we bought in was definitely a challenge for my wife and I. Bob made this a very easy transition in buying our first piece of property. I want to thank the Barry, Broker in Charge, and the staff at Weichert for your professionalism. When I had questions, Bob never let 5-minutes go by withouth a reply, so thanks for the prompt responses when I had questions. Thank you again for helping me. We are excited to begin a new chapter in our lives, and we have Bob and Weichert Realtors® - The Freedom Group to thank. Bob is definitely an asset to your company. Dean D'Adamo