6 Pitfalls of Overpricing Your Lowell Home
1. It fails to compete with other properties on the market. Buyers research properties on the internet and eliminate by comparison and automated price estimates on real estate websites.
2. It fails to meet buyers expectations. Most buyers expect certain amenities and fixtures in certain price ranges (i.e hardwood floors, granite counters , stainless steel appliances, master baths) and become disinterested when a property does not meet their criteria.
3. It Remains unsold for a long period (30 days )causing buyers to be wary , even making a lower offer.
4. It turns a buyer from one area to another. A qualified buyer in your price range may disqualify themselves if confronted with even one or two overpriced properties.
5. An overpriced property can ultimately cause a monetary loss. Consider the holding cost of your Lowell home for six months to one year. The market may adjust and increase to your price in that time , but you have already invested more.
6. Timing is everything. Don’t risk losing the best qualified buyers. The highest traffic on most New Lowell homes for sale is in the first 30 days.
To Find out What Your Lowell House is Worth visit. http://www.lowellhousevalues.com for your Free Lowell House Value Report.
Courtesy of Chris Tryon ~ The Tryon Group ~ ERA Key Realty Services