Overpricing a home causes problems in new market.



If you’ve ever watched “The Price is Right,” you know that the only way to win is to be the one to correctly guess the price of the item you want without going over! That means your guess must be just slightly under the retail price.


We've seen signs that the real estate market is shifting. More homes are coming on the market and home values are projected to appreciate at lower rates. Homeowners will not be able to price their homes as aggressively as they were able to just last year. They will have to employ the same strategy as the famous game show: be the closest without going over!


As we have explained before, pricing your home at or slightly below market value actually increases the number of buyers who will see your home in their search and makes it more competitive! Homeowners who make the mistake of overpricing their homes will eventually have to drop the price. This leaves buyers wondering if the price drop was caused by something wrong with the homes when in reality nothing was wrong, the price was just too high!


Bottom Line

If you are thinking about listing your home for sale this year, make sure you have a real estate professional on your side to help you properly price your home from the start!

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