BAP Blog The Importance of Determining the Right Selling Price for Your Home in Raleigh North Carolina
The Importance of Determining the Right Selling Price for Your Home in Raleigh North Carolina
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July 3, 2009, by Ray Lenahan

Ever heard the phrase "location, location, location"?  Those three words are often thrown out by Realtors and others as the three primary factors in getting a house sold.  There is much truth there.  An alternative would be, "location, condition and price."  PRICE IS KING.  Any house, I repeat, any house will sell for the right price.  And what is the "right" price?  The right price is the price that a willing, able and ready buyer will pay in the current market that your house is for sale in.  Not what an appraisal or comparable market analysis tells you.  Of the second group above of three factors that will sell a house, the seller has control over two of them; price and condition. 

Let's focus on price here.  Because of the critical nature of price in getting your house in Raleigh NC sold, it is imperative that you get a professional evaluation from an experienced Realtor.  He or she can provide you with an honest assessment of your home based on market conditions, condition of your home, repairs or improvements needed, and the time frame in which you want to sell. 

Beware.  Some Realtors are willing to "buy" your listing, meaning they will give you a price to list your house at that is too high but is pleasing to your ears, even though they know it has little chance of selling for that price.  Don't waste your time. 

If your house in Raleigh North Carolina is listed for sale too high several things can happen:

  • Potential buyers may avoid viewing your house because it's out of their price range.
  • Your house may simply be used by other Realtors to sell homes like yours that are more reasonably priced.
  • Homes that stay on the market too long risk having that percieved "stale" stigma attached to it.  Buyers begin to ask, "what's wrong with this one?"  There are exceptions, of course, but that is not unusual.
  • Buyers begin to come in with "low ball" offers if your house has been on the market for an extended period because they figure your becoming desperate.

If you're going to "test the market" in Raleigh NC by listing somewhat on the high end initially, make sure you've got a price reduction schedule in place and are ready to adjust quickly if the market is telling you, either by buyer comments or few showings, that your priced too high.

Homes that are in good condition and priced right from the outset are going to yield you your best price in the least amount of time... and headaches.

Call me at 919-272-2258 or e-mail me at craylenahan@earthlink.net if I can be of further help with your Raleigh NC real estate needs.  As an alternative you can fill out the form below.  I realize that you are currently in the information gathering stage, and may not be ready to "open up" about who you are, or what your needs are at this time.  Be assured this is perfectly okay, and that I will completely respect your online privacy.

 

 

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