It is essential to put yourself in the right mindset in order to sell homes. Most often, this is the most difficult aspect of selling for most sellers. The Carmel CA homes you are selling is worth what a buyer is willing to pay, which is most probably not what you think it’s worth.
Removing your emotional attachment to Carmel CA homes is difficult. Cleaning out years of mess, depersonalizing your home by removing personal memorabilia, and staging your home for sale can help you step back and view the home as a commodity that needs to be sold rather than as your personal sanctuary.
The home-sale market is a localized phenomenon. The only way to get a clear estimate of what your home is likely to sell for is to find out which listings are selling in your neighborhood and for how much. The most current sales, those that closed within the last three months, will be the most informative. Be sure to take a hard look at the list prices of homes that are recently on the market. If the list prices are lesser than they were two or three months ago, this indicates that prices are declining. This needs to be considered when you select a list price.
Pay close attention to your competition. Don’t make the mistake of pricing your home higher than your neighbor’s home because yours is better. If your neighbor’s price is too expensive for the market, both of your homes will not sell. Ask your listing agent to call the listing agents of properties comparable to yours to find out what kind of showing activity they are receiving.
Some listing agents propose that you list considerably under market value in order to stimulate multiple offers. In some cases, this can be an effective strategy. In the low-end foreclosure market, this was widespread practice at the end of last year. Some listings priced way cheaper than market value receives more than a dozen offers.
However, it can be dangerous to price significantly lower than market value on a more expensive property for which the demand is lower. You could end up with more than one offer, but you could also receive under-market price offers. Your home needs to be perceived as a good value to a buyer to sell in this market. However, you could short change yourself by discounting the price too much. Your home is most marketable when it is new on the market. Buyers wait anxiously for the new batch of listings. Listings that don’t sell comparatively quickly often suffer on the market.
Price decreases often follow as the sellers try to find market value. A listing that has stayed on the market for months is likely to receive a low offer if a buyer makes any offer. A listing that obtains a lot of showing activity when it first hits the market but gets no offers is probably overpriced for the market. In this case, it’s best to reduce the price to market value as soon as possible while Carmel CA homes is still fresh in agents’ and buyers’ minds, even if this is within two to four weeks of the listing date.
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