Reasons For Overpricing Your Home

Overpricing your homeOver-Improvement

Improvements should be made for enjoyment, not just for resale. You cannot add an item to a home, select it to your style, use it and then expect a buyer to pay the original cost.

Financial Need

An owner’s need for money does not increase the value of the home nor does a buyer care about how much you need to walk away with.

Buying In A Higher Priced Area

Values are location specific. High values in the destination, the location to which you are moving, do not increase the value of the home you are selling.

High Original Purchase Price

Chances are you paid market value for your home and the market may have changed. It is not that you paid too much but rather, that the market has since experienced significant change. This is not a reason to ask a higher price.

Lack Of Factual Data

Base your opinion of value on recent documented sale prices.

Bargaining Room

Buyers may offer low, but they will do that at any price. It is easier to negotiate up to fair market value than to an inflated price.

Just Fishing

You are not really motivated to move but, if you got the right price, you would move. It is important to price correctly to preserve your marketing opportunities when and if the move becomes urgent.

Setting the right price for your home is a critical first step to helping it sell. Let the professionals at Justin Havre & Associates assist you with any and all of your real estate needs, contact them online or by phone at 403.217.0003.

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