Here some inside baseball from Realtors about setting the list price of your home from the Arizona Republic.
A home owner commonly believes their home is worth more than it actually is worth but during the crazy market of 2004 and 2005 those overly optimistic sellers often turned out to be right. A seller would ask a crazy high price… and eventually get it!
It got to the point that I didn’t recommend a list price based on what the home would sell for today, but how much I believed the home would sell for in 2 months, which was considerably more. That worked great at getting the most money for my sellers.
Today, however, the estimated selling price in 2 months is the same as the price today. Many sellers, however, have been slow to adapt to the new reality and are pricing their homes too high.
Here’s the key to understanding what your home is worth – subscribe to Home Sale News, my sister publication.
Whenever I’ve had the pleasure of meeting long term subscribers to Home Sale News, they’ve had amazingly accurate opinions of their homes’ market values.
It takes some work to study Home Sale News each week, but if it is important to you to know what your home is worth, it’s worth your time.
Many people want to know what their home is likely worth before they talk to a Realtor. That’s certainly the way I was before I became a Realtor.