Baltimore Maryland Real Estate

Price your home correctly in todays Real Estate market

March 26th, 2008 Posted in Real Estate News

Are you a Seller wondering if there is a special formula to price your home to sell in todays Real Estate market?  Although there is nothing scientific, there are few several points to consider when putting a price on your home. 

 First of all, take a look at pending sales as well as homes that have already sold.  Pending sales give you a read on which homes are currently being placed under contract by todays Buyer.  Are these homes similar to yours?   How long did it take for the home to go under contract at that list price?  Is the square footage similar to your home?  Pending sales can give you a good idea of how long your home may be on the market at a certain price point. 

Familiarize yourself with other homes on the market.  Look at pictures,  go to open houses.  These homes are your competition, it is essential that your home is priced so that Buyers will choose yours over the competition.  In todays market, it is imperative that your home is perceived by the Bueyr as one of the top two “best values” in the neighborhood.  In some instances, your home needs to be the best value in the neighborhood.

Don’t be afraid to reduce the price.  If 8-10 perspective Buyers have viewed your home and you have not received an offer, then a price reduction is probably necessary.

 Before you price your home, always seek the advice of a REALTOR.  They have knowledge of the area nd will be able to help you review all the information and come up with a successful marketing strategy along with the proper price to sell your home.

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