Remember that the selling prices of homes are not the
original asking prices. Unless you are in an extremely hot real estate market,
most buyers will not offer full asking price.
Therefore, depending on your local market conditions, you
might want to list your home for a bit higher than your expected selling price
to allow the buyer some room to negotiate.
The closer you can price your home to the fair market value,
the faster your home will sell. So be careful. Don’t overprice your home. You
will eliminate too many qualified buyers who will be scared away by an inflated
asking price.
After reviewing comparable sales of homes, sit down with
your real estate agent and review the present market conditions for your local
area.
You’ll want to discuss:
Current mortgage rates. If the
mortgage rates are low, more buyers can qualify to purchase your home. More
qualified buyers will give you an advantage.
Present economy conditions. If the
area’s major employer just agreed to a new three-year union contract, everyone
will feel positive about the area’s future. This is great news if you’re
selling your home. Buyers are willing to make offers and commitments,
especially when future job security is assured.
How long it is taking for
comparable homes to sell. If most homes are selling within 30 days-great!
However, if most homes languish on the market for six months or more, you might
want to take a more aggressive pricing strategy.
When or how soon do you have to
sell? You don’t want an unsold home with a moving deadline looming. Quick,
desperate home sales won’t bring you the maximum return on your home
investment. Discuss with your real estate agent the minimum amount of time you
can allow to have your home on the market.
After reviewing these factors with your real estate agent
you’ll have a good idea of what price to list your home.
If you have any questions about selling your home, contact Terez Harris NOLA Real Estate Group. We would love to help. Call (504)297-2619 or email Harris.Terez@gmail.com
KELLER WILLIAMS REALTY NEW ORLEANS 8601 LEAKE AVE NEW ORLEANS LA 70118 504-862-0100
EACH OFFICE INDEPENDENTLY OWNED AND OPERATED. LICENSED IN THE STATE OF LOUISIANA.
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