What Price Do You List Your Home

You would like to sell your home. Do you list it for $100k more than what you need to get because its a buyers market and buyers are making $100k offers off the asking price? How would you price your home ???

Re: What Price Do You List Your Home

A very good friend of mine is a real estate agent. She said that the homes that are selling now are the appropriately priced homes -- not the overpriced ones and not the ones that are bargain priced. Price your home at what it's worth.

Price your home for the market. Sellers still haven't accepted deflated housing values and are way overpricing their homes for the market and that is part of what is leading to the lowball offers. I don't know anyone offering $100k below asking price, though -- and most people will NOT look at a house that far out of their price range. I wouldn't recommend pricing your home that high. You will get less foot traffic and the buyers who do look will be very annoyed that the house is so overpriced. Most people aren't going to think you'll lower your price $100k and therefore won't be making any offers at all.

ETA -- Have a few brokers come through and tell you what they think is a fair price for the home. Ask for comparable sales in the area, too.

Message edited 3/11/2008 8:57:43 AM.

Re: What Price Do You List Your Home

I agree with Kara. Price to sell. GL with your home sale.

Re: What Price Do You List Your Home

We're putting our on the market within the week. Def price it according the market otherwise it will sit for a long time. People will not go see an overinflated priced home.

When you meet with the broker they'll pull up recent sales in your neighborhood and with the updgrades in your house they come up with a market ready price.

My parents 1st brokers WAYYYy overpriced their house last year and they got either no leads, or unqualified lookers. They finally dumped them recently and went with someone else who understood the market better. 1 year later and hte house is still on the market even though they are priced better now.

We're pricing our home 5K more than we want to take, only because that's the trend in my neighborhood right now.

Re: What Price Do You List Your Home

this is just my observation- and I am looking in a very spefic area

Long Beach, Lido, Island Park-

but I typed in a max price of $700K last night

as the prices of the homes got over $600K- I felt the people were smoking something

the houses priced from $499-$579K was where I was seeing them priced accordingly (anything lower then $499K is too small for us- but I let them show me them just in case there is bank owned etc.)

there was only 1 house over $600k that I agreed with the price based on the pic - it was in lido and had beach rights, double lot- and needed NO work (even the kitchen was my style) (I would expect that or canal front for over $600K)

however- if I think your price is out of whack with the pic- I am not making an appointment to see it - and I see that ALOT

but- I don't think anyone is going to pay asking price in this market- so I would leave wiggle room-

Re: What Price Do You List Your Home

I understand your dilemma. I am trying to figure out pricing right now and have similar reservations.

I really would like to list for exactly what I think the house is worth, but I too worry about lowball offers.

It's such a tough market for sellers.

Re: What Price Do You List Your Home

Re: What Price Do You List Your Home

Re: What Price Do You List Your Home

Again, I have to Thank everyone for their opinions and imputs. What I have learned from the posts (this post and alot other posts) is if you overprice, underprice, or price it just right it really doesn't make a difference. The house is still on the market. That would explain why homes are not selling. No matter what plan you come up with. Buyers really don't know what to offer cause homes are priced by different strategy's and you don't know if a home sold for a low price cause it was a real dump. My heart goes out to all sellers and buyers in this market and I hope the selling and buying strategy's get narrowed down.

Re: What Price Do You List Your Home

Re: What Price Do You List Your Home

I have been thinking about this , as we want to put our house on the market in the next year or two.

For our first house - we knew market value and it was still kind of a seller's market.

now I think most people want and can get a bargain. So after I figured out my bottom line, I would probably add 10% to it - for people to lowball and/or to lower it if need be. I'm not sure this is the right thing to do, but it's what I have been thinking. I just hope this market gets better for us sellers!

I think it's very important to know your neighbor's houses - go to all open houses. We had two houses that sold for much less than what I thought our house is worth - but they were all original 1965. Make sure that your REA knows this as well.

Re: What Price Do You List Your Home

Re: What Price Do You List Your Home

We're going through this right now with the house we're trying to sell upstate. THANKFULLY it's not on LI so we're not talking big $$$. We're having a very difficult time getting it to the "right price". It's been on the market a year now & was priced for commercial purchase in a hot market...not the market it is now. We've rec'd great advise from our soon-to-be current agent & are pricing it to sell because the carrying cost for us is too much right now (no mtg, just upkeep & loads of stress not being near the property).

Good luck....