Are You Sure The Price Is Right?
If you’ve ever watched “The Price is Right,” you know that the only way to win is to guess the price of the item without going over. The closer you are to the right price, the better...but if you go over at all you lose everything.
In today’s shifting real estate market, where inventory is catching up with demand, properties need to be priced just right or buyers won't even entertain them. Listings will need to employ the same strategy as the game show: be the closest without going over!
Over the last six months, new construction inventory has increased, but we still have a shortage of existing homes on the market. This is especially true in the Fife-Milton- Edgewood market. Although home values are still appreciating, the rate of appreciation is leveling out.
Homeowners who make the mistake of overpricing their properties will eventually have to drop their price. This leaves buyers wondering if the price drop was caused by something wrong with the property, when in reality nothing was wrong, the price was just too high to begin with!
If you are thinking about listing your property this year, let’s get together to price it right from the start. Learn more about the process of selling your property Here.