Selling your house is not an easy thing to do, especially since it involves a large sum of money, even on your end! You have to refinance your mortgage, look for interested buyers, find a real estate agent to put it out on the market, and so much more.
One of the main concerns is the pricing of the home, which some people have a hard time coming up with. Sometimes homes can be too steep to the point that no one in the market could afford it, which is a quick solution.
The problem with underpriced homes, however, is that you could lose money that you could have potentially earned and cannot take back the price. Here are some common pricing questions that are the cause of many people’s anxieties.
How Do I Know If My House Is Underpriced?
Pricing is all about market research. It’s all about being objective in the way you look at things.
Real estate agents often compare your homes to those that are also in the neighborhood or the ones nearby to scope what things are like right now. They also consider accessibility to schools, hospitals, grocery stores, and any establishment that people need to live nearby. These things can drive up the price.
From the inside, the house’s value will also depend on its condition. If the fixtures and walls are up-to-date, then it won’t hit hard on the price. The number of bedrooms and bathrooms are also taken into consideration with the price.
Taking the two into consideration will help you establish a realistic price range. For example, if your home was in a good neighborhood and had more bedrooms and bathrooms than the house being sold next door, then your home should sell for more. Being the same price or lower will tell you that you are not priced high enough.
Selling in One Day: Is That Bad?
The impression of a fast sale is that the seller may be desperate to sell the home. While it is the situation for some sellers, it is not always the case. Sometimes it is coincidental that the first offer is the best. That said, it is not uncommon for sales agents to take the offer right away.
Why Isn’t My House Selling? Is the Price Too High?
Professionally priced houses are often right than they are wrong. There are plenty of other reasons why a house isn’t selling besides price. It could be the current economic crisis that is restricting a lot of people from buying a home. Advertising may need a bit of help to get the word out.
Proper pricing comes with knowledge of the market and what the current state of things is. If you believe that your property is not at a price that is fair, you can always ask a second opinion from people you know to gauge if they would be willing to purchase your home at your set price point. However, the best and most informed opinion you can get is from a professional real estate agent.
Are you looking to sell a house in Owensboro? The Blake Hayden Group is a firm of skilled and committed real estate agents with comprehensive knowledge in the field. With 35 years of combined experience and dedication, we offer an enhanced service for homebuyers, investors, and sellers. Contact us today!