Homeowners sometimes struggle to set an accurate price when listing their house for sale. Often future interests, unrealistic financial dreams, or an uneducated or inexperienced real estate agent get in the way of setting a correct price that will draw prospective buyers and help the seller get the house sold. As your Boise, Idaho and North End real estate experts, we want to provide you the best information possible to help you set the right price for your house.
The 'market value' of a houseis what a qualified buyer will pay for the house at any given moment in time along with where the house will appraise. Buyers and their agents are shopping and comparing - they know where your house should be priced! And no matter how hot the market, buyers won't easily be convinced to pay more.
Sometimes sellers believe it's ok to price their house high and reduce later if necessary. They are concerned about leaving money on the table. This can be a lethal strategy, however, as it may yield low offers or no offer at all. I always say, 'I'd rather have someone to negotiate with than room for negotiation!'
The National Association of Realtors states that 47% of home sellers reported reducing their asking price at least once, which thus delayed the sale of their house. Overpricing endangers the seller's goal of selling the house and will keep it on the market longer. Houses that stay on the market for too long become 'timeworn' and buyers go to the house with the assumption that something is wrong.
Remember - it doesn't matter what you paid, what you owe, what you need, or what your neighbor's house sold for - the only things that matter when you're selling your house are what a qualified buyer will pay for it and at what price it will appraise.
And always remember, if you are interested in real estate, we are your Boise, Idaho and North End real estate experts. Call us at (208) 327-2127 for a market analysis on your house! If you are interested in searching for your next dream home, the place to go is here!