10 Signs Your Home is Overpriced
If you’re selling your home, you need to understand that pricing your home correctly from the beginning is absolutely critical. The most common reason a home doesn’t sell is because it is overpriced. Here are 10 signs your home is overpriced.
- Generally most homes in a neighborhood are priced pretty much alike. They were all built around the same time and close to the same size. There will be some differences when a home is upgraded or there’s an addition. While it’s not impossible that there can be homes that have a $100,000 value difference, it is quite rare. By completing a comparative market analysis, you can see what houses have sold for in the past 6 months.
- You have had no or very few showings. If your home has been listed for sale for a few weeks and you’ve had only a couple showings, you need adjust the price in the hopes to generate some activity and excitement
- If you haven’t received an offer in the two or three weeks after it was put on the market this is one of the 10 signs your home is overpriced.
- If you interview 3 real estate agents and one of the real estate agents suggests a price that is $30,000 higher than the others, you need to know how they came up with that number.
- Neighbors are selling and yours is not. There are so many things that can influence the sale of a home. If yours is not selling, it is overpriced.
- Open houses are duds. If you believe thatopen houses are necessary to sell your home, and not one person walks through the door during the 2 hour open house, then your price could be an issue.
- Look at Internet Traffic. If there has been little to no internet traffic or property inquiries, then this is one of the 10 signs your home is overpriced
- One of the biggest benefits to hiring a top real estate agent is they know the importance of receiving feedback on their listings. If you’re not receiving feedback from showings, it may be time to think about firing your real estate agent. Or feedback could be saying the décor is not compatible with buyers or the house is overpriced. It’s time to make adjustments.
- You receive low-ball offers. Most overpriced homes will not receive any offers, however, it is possible that you will receive low-ball offers. Most buyers don’t like to make low offers. They feel it is embarrassing to both parties. If you do receive low-ball offers, your house is overpriced.
- An expired listing. Possibly the most obvious way to know a home is priced wrong occurs when it doesn’t sell and the listing expires.
Try to get the price right when you list the house. That’s when there is the most attention and excitement. The longer it’s on the market, the more it becomes stale, like bread, and potential buyers wonder what’s wrong with the property.
If you want to forego all the guess work and get it over with right away, why not call us?
Styl Properties, Inc. is part of a nationwide group of thousands of investors who are helping tens of thousands of homeowners every year. We may not be the “traditional” route, but we CAN help and we can do it quickly.
Give us a call today at 402.909.0608 to let us know what YOU need help with!