Understanding the “Concept” of Pricing Your Home in Today’s Market

Dear Sellers,

Are you seeing homes, in your neighborhood for instance, sell fast and sometimes for list price or more while others seem to languish on the market? I know why they’re not selling.   There’s a high cost to overpricing your home.  Here are are some stats as of March 2010 for the Seattle Eastside that might just surprise you.

As articulated in my supporting information Moving from For Sale to Sold, when a client overprices their home, the chances of selling diminish over time and the final sales price becomes greatly reduced.  I’ve had experiences where clients have heeded the caution or, in some cases ignored today’s pricing concept.  After seeing this, ever wonder why some buyers will work a seller over on price?

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2 responses to “Understanding the “Concept” of Pricing Your Home in Today’s Market

  1. With all the foreclosures in our area, there isn’t much room for straight sales, and it is very hard to know the right price.

  2. Foreclosures in a neighborhood play a part in pricing a home, unfortunately. I’ve seen quite a few bank-owned & short-sale properties lately and they don’t hold a candle to a home that’s in great shape. I try to not let ‘one bad apple spoil the whole bunch’, if you know what I mean. If the neighborhood is riddled with un-kept homes, that will cause much more impact to the well-kept homes.

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