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Carol McDonald
RE/MAX Homeward Bound
(800)632-4762
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Dangers of Overpricing
According to research by the National Association of Realtors,
the Internet is becoming a popular tool for homebuyers. Nearly
two-thirds of potential buyers say they use it to refine their
search. Broker and Multiple Listing Service web sites let buyers
browse by size, style, area and price.
Many buyers will only look at those homes within their price
range and may not even consider those beyond what they are
willing to pay, much less make an offer. As a result, it's more
important than ever to accurately price your home for the
market. The greatest number of potential buyers is for homes
that are priced consistently within the range for their
particular market. The higher your home's price is above the
market, the fewer the number of buyers who will be interested.
Overpricing can also make a home take far longer to sell.
Even if an overpriced home does receive an offer, there are no
guarantees it will appraise at that price. Since most buyers
finance their purchase, overpricing might make it difficult, if
not impossible, for buyers to obtain financing.
The best strategy is to price your home at market value right
from the start. A fairly priced home will capitalize on the
flurry of buyer interest a home enjoys during the first few
weeks on the market.
Please feel free to call or email me if I can be of additional
help.
Sincerely,
Carol McDonald, CRS, SRES
RE/MAX Homeward Bound
(800) 632-4762
e-mail: carol@cmchomes.com |
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