HomeBuyers,,What is the Term "Priced Right" mean?

Whether your buying a home from MLS or For Sale By Owner, When looking to buy a home... Homes being sold are not being sold by Square Footage, What it has in it (Amenities), Condition of home or By Area. So how do you know if a home is "Priced Right" ?

Re: HomeBuyers,,What is the Term "Priced Right" mean?

I would think that means it's priced right in line with similar homes in the neighborhood...or even slightly below. Also, priced right for today's market.

I find that ALL sellers think their house is 'priced right', but that's not always the case.

Re: HomeBuyers,,What is the Term "Priced Right" mean?

Priced right to me means the condition of the house, property and the town location. If you're in a good location, but the house needs to be completely gutted with no curb appeal, I don't see a reason to ask $600,000.

Re: HomeBuyers,,What is the Term "Priced Right" mean?

Who knows? It is a such a loaded statement that I don't think anyone knows for sure. For me, I would interpret it to mean that the seller won't be willing to move far (or at all) from the asking price.

Re: HomeBuyers,,What is the Term "Priced Right" mean?

I tend to agree with all of you, To every person "priced right" means something different but yet everyone uses that term. I thought my defininition might of been wrong or their was a definite definition of "Priced Right" so I asked the Question. I would love to hear if their are any more opinions.

Re: HomeBuyers,,What is the Term "Priced Right" mean?

I think that's a term REAs like to use especially on MLSLI to convince potential buyers not to offer much less than asking.