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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (48875)	2/21/2006 1:19:30 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 306849

I would price slightly below the cheapest comp and make sure my house was the best condition of any other comps at ANY price.

To: Wyätt Gwyön who wrote (48875)	2/21/2006 1:34:15 PM
From: Elroy Jetson	Respond to of 306849

The best way to sell a house is always to under-price it slightly below the typical market mark-up to generate interest and enthusiasm. The owner should be out of town and unavailable for five days, and will evaluate all offers when they return. Buyers will frequently offer more than the asking price to make sure they have the winning bid. In my experience this always sells the home within a week for the very best price in any market. In most markets, homes are offered for 3% to 7% above the real appraised value of the home, depending on market conditions. Taking the time to evaluate what other homes are really worth relative to what they are offered for is the most important step in pricing and selling your home quickly for a good price. If the bulk of the homes on the market are being offered for 4% over the "real price", offering your home for 6% more than you expect to sell for will only generate low-ball offers from fellow crazy people and low turn-outs on people asking to see your home. On the other hand offering your home for 2% above market price, when most others are offered at 4% over, usually generates enough interest to actually sell your home at 2% over the market price. Some very few agent actually price homes as much as 5% below expected sales price. This can attract every buyer in town and result in rich premiums over market price, but you'd best know what you're doing when you take this approach. .