Welcome to the official Blog of BuyOwner.com

BuyOwner.com buy sell trade rent

  • Home
  • About BuyOwner.com
  • Popular Posts

5 Price Tags of Overpricing

Jun01
2009
Leave a Comment Written by Shanna

housemoney

For most people, selling a home can be an emotional experience. Even though a house is just a physical structure, it feels like more than that. It’s where your kids took their first steps or where you celebrated holidays.

But when it comes to pricing your home for sale, it is necessary that you cut emotions. Otherwise, you may make the mistake of overpricing your home for the market, and that is a mistake hard to recover from.

Here’s what happens if you price your home based on emotion rather than on data:

1. You get overlooked. Remember, in real estate, homes sell for what buyers will pay. If you overprice, you put yourself in a price bracket with homes that are more expensive and, usually, much nicer. Why would a buyer pick yours?

2. You help sell the competition. Along the lines of being overlooked, when you overprice, you do the competition a huge favor. Suddenly their properties look like a great value compared to your overpriced home.

3. You’re on the market longer. You’ll be waiting, frustrated, without buyer interest when your home is overpriced. During this waiting period, you are trying to keep your home in showing condition, possibly still paying a mortgage and wasting time.

4. You have to wait to move. Selling your home, usually, means the opportunity to buy a new one. But with no buyer interest, everything has to be put on hold.

5. You eventually lower your price. Problem is, when you do finally lower it, because of its time on the market, you’ll look desperate. Buyers will know your home hasn’t been selling, and that makes them leery. Plus, it gives them much more negotiating power.

That’s why it makes sense to price your home for the market, not for your dreams. Otherwise, you run the risk of paying the biggest price yourself: sitting with an unsold home.

Related Reading

  • What the Market Means for Sellers Now
  • Increase in Home Sales!
  • Right Pricing Still Sells Houses
  • Selling a House That Needs Work
Posted in Selling Tips, Tips and Ideas - Tagged cost, home sales, overpricing, pricing, real estate, sale, selling a home
SHARE THIS Twitter Facebook Delicious StumbleUpon E-mail
Similar posts
  • Declutter: Taking the First Steps — You hear it time and time again. As a home seller, or ju...
  • Featured City: Deltona, FL — As part of a special feature at the Buy Owner Blog, we’l...
  • Stand Out at Your Open House — In the past, we’ve supplied you with articles on how to ...
  • Florida Home Prices Dropping — According to a recent article at HousingWatch.com, Flori...
  • After Your Ad is Live — Congratulations on taking the first step towards selling...
« How to Find More Space
» Homes Now Cheaper Than Ever

No Comments Yet

Leave a Reply Cancel reply

You must be logged in to post a comment.

About the BuyOwner.com Blog

Welcome to the BuyOwner.com Blog, your source for regularly updated market information!

Founded in 1984, BuyOwner.com® is the leading provider of real estate marketing services. We pioneered the "For Sale by Owner" (FSBO) market, which today represents over 20 percent of all residential real estate transactions.

You can read more about BuyOwner.com here.

Article Archives

Buy Owner Links

  • BuyOwner.com on Facebook
  • BuyOwner.com Testimonials
  • BuyOwner.com Website
  • Twitter: Buy Owner

Blog Roll

Real Estate Top Blogs Real Estate Blogs - BlogCatalog Blog Directory Add to Technorati Favorites Find the best blogs at Blogs.com. Blog Directory Home Improvement Blog Directory

Subscribe

Enter your email address:

Delivered by FeedBurner

Tags

31 reasons to sell with buy owner adding value to your home buying a home buying a house buy owner Buy Owner experience curb appeal decorating eco-friendly eco-friendly tips environment florida fsbo Green Living holiday home decorating Home Improvement home improvements home ownership home selling how to sell your home interior decorating interior design kitchen Market News moving real estate real estate market real estate selling real estate tips Regional Info selling selling a home selling a house selling Buy Owner selling by owner selling for sale by owner selling fsbo Selling Tips selling with buy owner selling your home spring staging using buy owner winter

EvoLve theme by Blogatize  •  Powered by WordPress BuyOwner.com Blog
Tips and info for people selling & buying their homes "Buy Owner"