Back in the day, when buyers were competing to buy homes and when almost any house could sell for any price, regardless of condition, sellers felt they could afford to over price the home or “test the market”, or price it with “wiggle room” because they were confident someone would make an offer to the their liking. Well, that ship has sailed and won’t be returning to port for many years to come, if ever.
The tide has turned and buyers are in the driver’s seat. They can choose from hundreds and hundreds of homes on the market and can pretty much get their price because sellers are more motivated than ever. Add to this mix the fact that foreclosures and short sale properties, many of which are in pretty good condition, sell almost 30% less than their competition!
So, my message, dear homeowners, is price your home “ahead” of the market. If you offer it for sale at least 5% less than your competition, you will shorten the number of days on market and get your home sold at the best possible price.
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