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Pricing your home is one of the most important decisions you must make when selling your property. Some sellers want to price their home based on the return they would like on their initial investment, while others will base the price on what they need to buy their new home. Location, condition, and accessibility are three other variables that will affect the price of a property.
It is crucial to price your home correctly from the beginning, because it may not sell if it is overpriced. Don't make the mistake of thinking that you can reduce the price later. By this time you will have already lost many potential buyers. The motivation of the seller is a very important factor affecting the pricing decision. The higher the seller's motivation, the lower the price, and low motivation usually means a higher price.
The state of your local real estate market is one of the strongest determining factors when pricing your home. A professional real estate agent will be able to guide you through the pricing pitfalls with a written market analysis that includes the selling prices for similar homes in your area.
