Price your home to reflect the current competitive environment. Consider recent sales, but prioritize the prices of active listings since they represent your competition. Example: A homeowner listed their property at $699,900, even though comparable sales were $525,000 to $550,000. Due to rapidly rising prices and limited inventory, the home sold three months later for $674,000.
In a Buyer's Market
Price competitively to attract interest. Monitor nearby listings and adjust your price if your home isn’t generating offers.
Incentives to Attract Buyers
When buyers are hesitant, offering incentives can make your home stand out: 1. Allowances: Offer credits for decorating, landscaping, or appliances to address perceived flaws without additional investments. 2. Home Warranty: A warranty provides buyers peace of mind, typically costing just a few hundred dollars. 3. Closing Costs: Offer to cover part of the buyer’s closing costs. While it might seem like a loss, it can speed up the sale and reduce overall carrying costs.
Timing Matters
The longer your home stays on the market, the less appealing it becomes to buyers. Price it right from the beginning to maximize interest and minimize the risk of lowball offers. Remember: The first offer you receive is often the highest. Take
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