ANOTHER WAY TO LOOK AT PRICING A HOME TO SELL:

Good advice will help sell your house every time. Putting a sign in the yard won't necessarily sell your home, but good effort will. If you want to put your home on the market, make certain it is "on the market." If you just want your home listed for sale, over pricing will make sure it is just listed for sale. If your intent is to have it SOLD then PRICE IT RIGHT! Remember, the first two weeks a home is on the market are critical. That's the time when you will get the most exposure. If you are over-priced, you will be over-looked! When it does eventually sell, chances are that it will be for less than it would have sold for, had it been priced right to begin with. What should you consider as you decide on an asking price? Here is a list of things to keep in mind.

Realtors don't set the price, and neither do sellers. The person who determines the value of a home is the buyer... after they compare. Condition and location are important, but the price will make the difference. Take emotion and outlay out of the equation. While sellers are concerned with how much they have invested, and what they can afford to sell for, buyers consider the competition and how your property measures up considering it's price.

Your home will sell because it's better than the competition, not because it happens to be your home. Over-pricing your home will cause it to get "stale" as it sits on the market. Other Realtors and buyers will begin to wonder what is wrong with it. A lot of stories are told about how much neighbors received for their homes; Stories in the same vein as the gas mileage of the new car, or the trade-in value of the old one. There is often an implication that the price was higher than it actually was.

The blood, sweat and tears along with the money you have spent on your home have no effect on what the buyer is being offered elsewhere in your market. Any house that sits unsold after 120 days on the market is overpriced... no matter how weak or strong the market is. But in a really strong market, 30 days could be too long to sit unsold.

The price you choose should be high enough to encourage maximum offers, but not so high as to discourage qualified buyers.