Setting the Price
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. The CMA will reflect the
following:
*houses in your price range and area 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 find out 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. And understand and set
your price to reflect the current market
situation.
