A Well-Priced Home Will Sell Faster In Any Market
There are a lot of home owners who are under the false impression that they can asking a high price for their home and then come down later. The true is that this could be a costly mistake that could lead to your home taking much longer to sell.
Even in a booming housing market, it is best to avoid the temptation of over-pricing a home, since any market may experience a sudden downturn. Since the initial month on the market is when a house gets the most attention, having it sit for 3 to 6 months because of a price too high can place your property in the "stale" basket that many buyers and Realtors often dismiss. Even if the prices are stable, competing with the other well-priced homes on the market could make generating showings for an over-priced home certainly challenging.
To establish the correct asking price for your house, consult with local Realtors and look at newspaper ads to get an idea of the baseline price for properties in your neighborhood. Although you can read lots of general property information from the web pertaining to Brampton property only a full-time agent will understand community specifics. Another helpful strategy is the "average days on the market" which you can determine by studying at what price houses begin to get "stranded" and end up at the bottom of the listings. Also be leery of Realtors that estimate a lofty list price because they may just be gambling that they will generate a big fee by rapidly selling your house.
One true sign that your house is incorrectly priced for the current conditions is lack of scheduled viewings the first few weeks. Real estate agents are not prepared to waste their buyer's precious time on properties that are out of their price limits. If this happens to you, lower the price quickly to reinvigorate interest and attract reasonable bids rather than praying to get lucky. This should help save you time and get you more money with downtown Toronto condos because you could find yourself selling alongside new condominiums projects in the close by.
As well remember that you are going up against low-priced houses that are in power of sale or being sold to collect delinquent taxes. You should remember that many of the power of sales and short sales are the result of sellers over-pricing their homes, hampering a rapid sale and leading to a financial meltdown. Also, the appeal of "fixer-uppers" and distressed homes can drag down the average price in a neighborhood, so an overpriced property offers little interest to bargain shoppers. In places such as Barrie real estate you should consider that buyers may be looking for more affordable homes so overpricing a home could be a disaster.
Real estate agents have come to understand that the possibility of initiating a bidding war are much greater on a lower priced home than an over-priced one. They realize clients are often shy about trying to negotiate a price down, but eager to compete with other buyers for lower priced homes by offering higher than the asking price. As with any purchase, buyers like to feel that they are getting a bargain, and smart real estate agents counsel their homeowners to not risk their property sitting for months with a high price tag, but attracting attention quickly by providing them a highly appealing listing.
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ABOUT THE AUTHOR
Stefan Hyross creates content regarding the real estate sector and you can find your Brampton property and downtown Toronto condos on one of these websites. You may also get info on real estate in Barrie and search for houses.http://www.yannickpicard.ca/