The
price is the first thing buyers notice about your property. If you set your
price too high, then the chance of alienating buyers is higher. You want your
house to be taken seriously, and the asking price reflects how serious you are
about selling your home.
Several
factors will contribute to your final decision. First, you should compare your
house to others that are in the market. If you use an agent, he/she will
provide you with a CMA (Comparative Market Analysis). The CMA will reflect the
following:
·
houses
in your price range and area that were sold within the last half-year
·
asking
and selling prices of houses
·
current
inventory of houses on the market
·
features
of each house on the market
From
the CMA, you will learn the difference between the asking price and selling
price for all homes sold, the condition of the market, and other houses
comparable to yours.
Also,
try to find out what types of houses are selling and see if it applies to your
area. Buyers follow trends, and these trends can help you set your price.
Always
be realistic. Understand and set your price to reflect the current market
situation.