Price it right the first time

When selecting a price for your home be aware of all the factors that are involved.

Multiple Listing Services or MLS have greatly simplified market research for the average homebuyer. With the click of a few buttons on the computer you are able to browse the latest listings for a specific geographic area. Along with local advertising in regional news sources and possibly televised ads buyers are more aware of market trends and pricing. This puts a greater emphasis on appropriate pricing of your home for sale. Your realtor will offer guidance about price, but ultimately the final decision about price is up to the seller.

If your home is in a desirable area, close to schools, shopping and all other amenities, you may have lots of activity regardless of the asking price. Usually buyers look at more than one property at a time and will consider which home is the best value for their dollar.

If your price is set above the market value you run the risk of missing potential buyers. A high price tends to extend the listing period prior to an offer and alienates potential buyers. This process can frustrate the seller and increases the overall stress involved in the sale process.