Overpricing your North Shore Home
During the week, buyers are our in force with their real estate agents and Sunday open houses are jammed. Multiple offers on well-priced properties are common. The problem is that there is not enough inventory to satisfy demand and many of the properties on the market are overpriced.
How do I know this? The number of days a property has been on the market is the major determinate of whether the home is priced correctly.
Here’s what every home seller should know: Buyers determine the right price for a property, not sellers. The market price for a home is determined by what an able and willing buyer ultimately pays for it. Certainly, the perception of value can be created.
Overpricing your North Shore Home
If you are trying to sell your home, market time is not your friend. The longer your house stays on the market, the more the value decreases for the potential buyer. If your list price is too high and does not match the perceived value, your house will linger, unsold and stale.
Sellers who price their homes well over where the comps have sold, or well over what their real estate professional has suggested, are inviting trouble. It is a very expensive mistake that is difficult to rectify. Lowering the price is a step in the right direction but often it’s too little too late.
Winnetka and North Shore home sellers have an average sales price well above the national average. Maybe this is why over pricing is common. Every home has a selling “range” and if it isn’t priced it within the parameters your real estate professional suggests (having carefully considered the comps, the economy, the condition, the location, and the motivation) your house could end up like this.
Working together, we can get your home sold at the right price. Give me a call today.
Thank You and Have a Great Day
Marina Jacobson
Broker, SFRDirect: 847-510-5009
Cell: 847-361-5605
Fax: 847-510-5109
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