Risks of Overpricing
Overpriced Properties for Sale Bend
It’s very important that sellers price their homes realistically, as overpricing can lead to a myriad of disadvantages. Keep in mind the following points when pricing your home for sale:
• Buyers are aware of how long a property has been on the market. If a property takes a long time to sell, buyers usually attribute that to overpricing.
• Overpricing reduces the response to any merchandising done for the property, and will not produce results.
• Buyers look at prices on many comparable properties. If your property does not compare favorably, it won’t sell.
• Proper pricing will produce an early sale.
• Buyers avoid overpriced homes, and usually do not choose to look at them.
• If overpricing delays a sale, the cost and inconvenience could be prohibitive. (Examples: Delay in job transfer, payment on two mortgages, wear and tear on your present property, loss of opportunity elsewhere, etc.)
• Top agents don’t show “old” listings.
• Two questions buyer prospects usually ask before viewing a property are:
“What’s the price?”
“How long has it been on the market?”
• The Internet makes it possible for prospective buyers to evaluate homes prior to looking at them and those that are “overpriced.”
• Properties that are reasonably priced create a sense of “urgency” in prospects’ minds.
Homes sell at fair market value.
Pricing a home realistically will bring an early sale, fewer inconveniences, and a greater monetary return. Check out MLS for Bend Oregon Westside and other areas.