Why Pricing Your Home Right Is Essential!
In today's real estate market, setting the right price for your house is one of the best things you can do.
According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes:
Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.
When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demend is higher and more buyers want to take a look.
How to Price Your Home
As a seller, you think about pricing your house on the high end while so many of today's buyers are looking harder than ever just to find a home to purchase. You're thinking, higher price, higher profit, right? But here's the thing – a high price tag does not mean you're going to cash in big on the sale. It's actually more likely to push away buyers and have them looking at the houses your neighbors are selling instead.ATrusted Real Estate Professional Will Help
It's important to make sure your house is priced correctly by working in partnership with a trusted real estate professional. When you price it right you won't be negotiating with one buyer over the price. Instead, you'll have multiple buyers bidding for the home, and that's what ultimately increases the final sale price.
If you’re thinking about listing your house this fall, let's discuss how to price it right!