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Home Pricing - Avoid These Mistakes Home Repair Articles | August 18, 2007 Home pricing is an art, but fortunately there is a little bit of science to it as well. As in many areas of life Hombre Pharrell x Adidas NMD Hu Trail Holi Rosa Verdes España , learning what not to do when pricing a home is an important part of doing it right. He...
Home pricing is an art, but fortunately there is a little bit of science to it as well. As in many areas of life, learning what not to do when pricing a home is an important part of doing it right. Here are some of the common mistakes sellers make, which are easily avoided.
Home Pricing Mistake - Doing No Research
Think you can really just guess what your home should sell for? Guess again! Unless you are an active real estate agent you are almost certain to price it too high or too low. Even a real estate agent doesn't guess. She does a market analysis Adidas NMD Azul España , using many of the same techniques as a professional appraiser.
Learn how to do this if you are going to try pricing the home on your own. It is a subject of its own, but essentially you find similar homes in your area that have recently sold, and compare yours to them. Then you adjust their prices up or down according to the differences and take an average. How much more would that home have sold for if it had your extra-large garage? You can see why you might need help with this part. You need to at least do some research.
Home Pricing Mistake - Pricing Too High
I don't even have to cover pricing too low. The problem with that is obvious. But many people think that they can put a high price on a home in case someone with a lot of money comes along. "I can always drop the price later," the thinking goes. This strategy might work if you have no deadline for selling. On the other hand Adidas NMD Blancas España , I know of at least one case where a seller lost tens of thousands of dollars by over-pricing his home.
How do you lose when you price too high? To begin with, all the costs of selling the home, from an appraisal to the advertising you do are lost during the time that the home sits there unsold. Yes, you can lower the price later Adidas NMD Mujer España , but you may need a new appraisal, and certainly new advertising.