Real Estate Pricing Misconceptions
Setting a value on something we care about can be painful. This is especially true when the thing we care about is our HOME. Many of us work hard to turn a house into a home, and when it becomes time to move on, to put the home we've loved out in the marketplace for all the world to see, we are hard pressed to price it to sell.
No matter what we would rather believe, the plain truth is that when pricing to sell, only four things matter: LOCATION, CONDITION, MARKETING and PRICE. It does NOT matter:
1. What you paid for your home - okay, it may matter to you but it does NOT matter to your buyer.
2. What you invested in updating your home - those updates affect MARKETABILITY but not price.
3. What you want or need to buy a new home - sorry, irrelevant to the buyer.
4. What you want or need to rebuild the home you have - again, you care but it means NOTHING to the buyer.
5. What your neighbor says he sold his home for - hey - if your neighbor wants to buy your home, let's talk!
6. What another realtor says he can sell your home for - because when it's all said and done, housing prices are just like stock market prices. Value equals what somebody will pay.
If you are getting ready to price your home for sale, how about giving me a chance to help. Just let me know.
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