war. In a hot or even mild market, this "BUZZ" can create the bidding war you want and tends to drive the price up over market value. Your real estate professional is the best person to suggest which strategy you should use depending on the market at the time you are choosing to list your home for sale and these strategies can change based on supply and demand in the area of the home.
THE COMPARATIVE MARKE TIVE MARKET ANALYSIS
When it comes to finding a buyer, pricing your home based on comparable real-priced sales is crucial to making the sale. The Comparative Market Analysis is imperative to pricing strategically. When you ask for one from a real estate professional, be sure to review the analysis, ask questions, and get explanations. If completed correctly, this comparison report not only gives you a great listing price but also reduces the chance of your home being under-appraised. If you have a well-priced home, you should have showings within the first few days on the market, and reasonable offers coming quickly thereafter. Don't forget, the longer your home sits on the market, the more it becomes "stigmatized" - the "what's wrong with it" sentiments. Also, you have ongoing mortgage, tax, and insurance payments, etc. which each month eat into whatever excess profit you are trying to eke out. The other cost you have is called opportunity cost. What can you be doing with that profit if you got it sooner? Purchase another home, invest the money, vacation. Don't forget about the lost opportunity cost when deciding what to list your home at.
PERCEIVED VALUE
If the perceived value of your home by a potential buyer is greater than the actual price, the more he or she will be willing to buy. The urgency to buy disappears the closer the price and perceived
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