Pricing your House to Sell

Most Sellers set their initial asking price at an amount somewhat higher than they are actually willing to accept, fully expecting a buyer to open the bidding with a lesser amount.

While price is the most frequently negotiated item in any home sale, you may be able to creatively provide financial value to your buyer - without lowering the price alone.

major appliances such as your stove, fridge, dishwasher and microwave offer good negotiating power - while you'll likely be including some of them in your asking price, consider excluding some from the listing (the washer and dryer perhaps) to use as a future bargaining chip;

window treatments, air conditioners, central vac, and ceiling fans are other extras that might entice your buyer and can be easily included later on in a counter-offer;

study your buyers' personal situation and think of ingenious ways to sweeten the offer that makes sense for both of you - if they're first time buyers and you are moving to a condo, include the lawn mower and gardening tools (or other items you may be planning to dispose of) in your next counter-offer;

if your existing mortgage rate is lower than current market rates and your mortgage is assumable, consider offering it to your buyers for savings they can count on after the closing - they'll enjoy monthly savings over the remainder of the mortgage term;

If you are serious about selling, don't price yourself out of the market. Overpricing is, by far, the most common error sellers make. Although you might think of it as "leaving room for negotiation", you might only scare off potential buyers who could pass over it for more reasonably priced homes.

They can't buy it if they don't see it, so get them in the door. Better to stand firm on a lower asking price than risk discouraging buyers and creating a stale selling environment.

To help you determine your asking price, contact a CRA (Certified Residential Appraiser) for a full market analysis and property appraisal and then set your asking price accordingly.

© February, 2004 - XstreamRealty Incorporated

Amie Walton is the president and founder of Xstream Realty Incorporated, a Virtual Agent online real estate service. She has retained her ASP designation in Home Staging and is managing both XstreamRealty.com and XstreamStaging.com as complementary businesses for assisting homeowners to sell their homes quickly and profitably.

---

Reinventing Real Estate, Part 1: Online and Empowered Consumers Are Taking Charge and Paying Less

For decades, the real estate world turned in a predictable... Read More

How to Build A Rental Property Money Machine

If you are looking for a steady, income-producing investment that... Read More

The Art & Science of Property Valuation -- Automated Valuation Models

It is no secret that sellers want to sell high... Read More

How to Buy Fixers for Profit

Do you dream of becoming a multi-millionaire real estate investor?... Read More

Does Staging Work?

Staging can involve minimal effort on the part of a... Read More

You Wanna Get High With Me?

Being a home inspector is great. It's fun, it's interesting,... Read More

When is the Best Time to Move?

As Realtors, we are often asked, "When is the best... Read More

Tidy Up The Outside, Reap The Rewards

There isn't a realtor in existence who wouldn't tell you... Read More

Crossing the Gap from this Home to the Next: Bridge Loan

So you're thinking of getting into a bigger house. You... Read More

How Do I Implement The Lease Purchase Plan?

Well, as we have discussed in previous newsletters first you... Read More

Make Money With Room Rentals

I don't know why I didn't do it sooner, but... Read More

Donald Trump on Real Estate

I love what Trump says about the business of real... Read More

How to Get the Best Price for Your House

The best price to sell your home is always determined... Read More

Look Past the Bottom Line for a Propertys Potential

It's unfortunate that many real estate investors tend to look... Read More

The Ultimate Short Sale Secret

Buying foreclosures can be extremely profitable for real estate investors.... Read More

Real Estate Investing - Makeovers vs. Flipping

Please don't call it "flipping."Some real estate investors who practice... Read More

Credit Help: Buying Real Estate -- Not the Same as Buying Cars

Credit for Buying Real Estate is Different than Credit for... Read More

Encouraging Debt

Most of us don't talk about money, finances, credit, debt....Young... Read More

Rental Properties: 10 Ways To Increase Income

What if you want better cash flow from your rental... Read More

Why Should Sellers Be Absent During Showings?

If only there were a way to sell your home... Read More

Property Investing ? Port Melbourne Life on the Edge

Property investing prices pick up following a cooler winter last... Read More

What Does It Take To Be A Donald Trump in Real Estate?

Since you are a business oriented person, you might be... Read More

Real Estate Bubble: Fact or Fiction?

The real estate market buzz across the country these days... Read More

The Listing Contract: Its All in the Details

Now that you've chosen a real estate professional to sell... Read More

Dealing With Difficult Tenants

When managing residential properties one bad tenant can often undo... Read More

Fixing Houses: Mixing Your Own Paint for Savings and Harmony

To make the maximum profit on your investment properties, you'll... Read More

Victorian. Modern. Colonial. What?s Your Architectural Style?

You are attracted to a home for more than its... Read More

10 Tips to Sell Your House Faster!

Here are some Handy wee Tips to help you Sell... Read More

Las Vegas Real Estate - Luxury Properties

Las Vegas is known for it's over the top hotels... Read More

Buying New Construction...How Do I Begin?

The prospect of shopping for a new construction residence can... Read More

How to Achieve Financial Freedom with Your Home

The secret disclosed on how you too could achieve financial... Read More

Real Estate Investing and Home Ownership

If you already own your home, you will probably make... Read More

Selling Your Home: The Power of a Great Sales Flyer

Even though its importance is often overlooked, a great sales... Read More