PRICING YOUR HOME

If you start out with a high sales price, then drop it later -- your house is "old news." You will never be able to recapture that flurry of initial activity you would have had with a realistic price. Your house could take longer to sell.

Even if you do successfully sell at an above market price to an uninformed buyer, your buyer will need a mortgage. The mortgage lender requires an appraisal. If comparable sales for the last six months and current market conditions do not support your sales price, the house won’t appraise. Your deal falls apart. Of course, you can always attempt to renegotiate the price, but only if the buyer is willing to listen.
The Correct Price Will:
* Result in a quicker sale, with less inconvenience to the seller
 
* Expose the property to more buyers
 
* Increase Realtor response
 
* Generate more ad calls
 
* Prevent your listing from getting "stale" or "shop worn"

Typically homes that sell more quickly, sell closer to or sometimes over asking price.

Pricing too high can be as costly to a home seller as pricing too low.
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