It Takes Location, Condition and Price to Sell a Home! Selling a home in today’s market is challenging to say the least. In the past, you could overcome a less desirable location with a great price. You used to be able to overcome dated condition/dÃ©cor with a great location and floor plan. And occasionally, a home in a great location and superior condition would sell for more than one might have predicted. But not today.
Today’s buyers want it all â€“ a great location, excellent condition and a price that is too good to resist! There is enough inventory on the market that a buyer will pass on a home with wallpaper, a dated kitchen, or flooring in need of replacement. Most buyers will not even look at a home that they perceive to be priced unrealistically. To a buyer, an overpriced home indicates an unmotivated seller.
Price is still the key but the location and condition part of the equation are factors that must also be considered when setting the asking price. Currently, there are more homes than buyers for those homes. When Tony and I are determining the best possible price for a home, we will identify the 3 homes that offer the most competition and then recommend that the home be priced in front of them. We do not want to “test the market” or “follow the market down.” Rather, we want to “lead the market.“
This pricing strategy doesn’t guarantee that a house will be the next home sold but it sure will increase the likelihood of it being shown to potential buyers. It has to be shown to sell. Once you have an offer, you can accept, counter or reject it. But at least having an offer, puts you (the seller) in charge.
Find out how actual selling prices compare to listing prices in your neighborhood by getting an instant MLS Market Snapshot.