How to Price your Home Right in Today's Market

If you want to sell your home in today’s tough housing market, it’s time to get realistic. Reaping large profits may no longer be realistic; instead, pricing your home reasonably and accepting a fair price for your home may take the place of windfall profits of the past.

Most real estate experts will tell you that the number one reason homes don’t sell is because they are not priced right. In other words, you must price your home according to current market conditions.

That means that it is extremely important to price your home right - from the beginning - so that you can expect it to sell during these tough times.

The following tips will guide you when setting the listing price for your Irving home:

  • Pay attention to local real estate trends. Your real estate agent will gather a list of all houses that have been listed and sold in the neighborhood over the last six months, and he or she will use this information when determining a fair listing price for your home.

This list will also detail the difference between the list prices and sales prices of these homes, which will give you and your real estate agent a better idea of what you can safely price your home for.

  • Don’t plan on inflating the price in anticipation of lowering it should it not sell. Pricing it right as soon as it hits the market will ensure the excitement of a newly listed home and will generate much more activity than an overpriced home which sits on the market for an extended period of time before being lowered.

Don’t give buyers any reason to doubt your home - and a home sitting on the market too long will immediately create doubt!

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