Is the Price Right?

In most cases, no matter what condition your house is in, when it comes to selling, the number one factor in getting your house sold is the price. If you have not priced your home right, you will likely have trouble getting your house sold.

One of the first things that potential buyers look at is the listing price. In fact, in many cases, if you have priced your home out of the price range of the average buyer for your area, it is highly possible that they may never ever look at your house.

Potential homebuyers determine their home buying budget, presumably before they even start seeing property.  This means that if they have set their budget with a high end range of $200,000 and you have your listing price over that amount, a potential buyer may never ever see your property is available.  Though this is the very reason there are budgets and price ranges, it does become a concern when you over price or under price your home.

Under pricing has the same issues as overpricing in that a potential homebuyer will likely set a minimum home value for their search. Again, if you have under priced your property in hopes of a quick sale, you may actually be hurting yourself in limiting the number of potential buyers that actually view your home.

When determining the listing price for your home, it is important to consider comparable properties that have sold in your neighborhood, or surrounding areas, during the past 6 months, give or take. If you haven’t seen much property movement, you may have to go back 12 months.  Nevertheless, looking at the properties that have sold in your area that have a similar room count , square footage, and amenities is important in determining a good listing price for your home.

This is where a good realtor comes into play. Having a realtor working with you as the seller’s agent means that you have someone that can help you list your home, help you price it for the market, and be with you through the negotiation and closing processes. Having a realtor help you price your home is a good move toward ensuring you are not over pricing or under valuing your home.

In the end, the right buyer will come along – eventually. In order to ensure the buyer comes along more sooner than later, it is good to make certain that you have priced your house for the market it is in and have helped make sure the price is right for your area.

Here are a few homes to view in Boise, Idaho under $250,000 provided by IDX/IMLS that are up dated each morning: