Selling your Home, Pricing it Right

Example 1: A $250,000 home is priced 10% below the true market value
at $225,000. The home sells quickly with little or no negotiation for possibly
an all cash offer to close quickly. This buyer maybe an investor who is
extremely market savvy or a buyer who works closely with a Real Estate Agent
using cutting edge buyer programs. This buyer probably has a VIP Buyer
Agreement with his agent and receives emails daily with all the new listings
as they come on the market. Both of these buyers are able to act before most
other buyers even know the home is for sale, they know the area and the pricing.
The seller leaves $25,000 on the table and doesn’t know it until it’s
too late.

Example 2: A $250,000 home is priced 10% above the true market value
at $275,000. The home gets no buyer interest or activity, no drive bys after 90
frustrating days the seller reduces the price to $264,500 (still above market
value). The home still has no buyer interest or activity, maybe an occasional
drive by. So again after 90 more agonizing days they reduce the price to
$259,900 (still above the market, but within the at least look at range).
Activity does pick up but the home now appears old on the market, the
advertising photo’s are all now out of season, the visual tour looks dated.
Finally an offer if you’re lucky at $235,000, after days of back and forth
negotiation you get it up to $242,000, what a deal. Now after 6 months of
agonizing frustration you lose $8,000 plus all the extra costs of mortgage
payments, interest, taxes, marketing, repairs, maintenance, explaining to your
friends why, and worst of all, the home you wanted to buy is now sold.

Example 3: A $250,000 home is priced correctly for the true market
value between $249,500 and $251,900. This home gets more buyer activity and more
offers than the over priced homes on the market. Homes priced at true market
value normally sell within 30 days. Of all homes listed less than 40% sell in
the first 30 days on the market. This seller will probably get a close to
full price offer and negotiate it up to full price without much effort. No
extended marketing, no explaining to friends and family why and you get to buy
the house you wanted first. Price it right, sell quickly and for top
dollar. Move on with family to your new home with the least amount hassles.

There are costs involved with selling your home. You must decide which cost
you want to pay, the normal marketing, commissions, and closing costs or add in
the costs of too high or too low pricing. With a little research and knowledge
you can price it right and save a bundle.

Bill Carey offers insights to the buying and selling process of residential
real estate for F*R*E*E information and reports see http://www.CharlotteNCExecutiveHomes.com
"Insider Real Estate Secrets Revealed" ...a must-read for Home-Owners
and Renters! It's a FREE 12-lesson course covering more than 20 topics exposing
the realities behind buying and selling a home. Even if you're not currently in
the market, you'll find a wealth of information and useful tips on how to
preserve, or even increase, the value of your home.

It could save (or make) you THOUSANDS of dollars!

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