Scott P. Rogers
Funkhouser Real Estate Group
540-578-0102  •  email
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Brought to you by Scott P. Rogers, Funkhouser Real Estate Group, 540-578-0102, scott@HarrisonburgHousingToday.com
Monday, February 26, 2024
Pricing Your Home
In the current local housing market, it is not advisable to price your home $10K to $20K above the price point where you hope to sell -- with the one caveat being that it depends on the price range.

If you hope to sell for $250K, I don't recommend pricing your home at $260K or $270K. 
If you hope to sell for $410K, I don't recommend pricing your home at $420K or $430K.

I suppose if you hope to sell for $760K, might matter a bit less (maybe) if you price your home at $770K or $780K.

But, back to the first premise... here's why I don't recommend a list price of $260K or $270K if you hope to sell for $250K.

Let's say you price your home at $265,000 - hoping to sell for $250,000.

If five buyers come to see your home in the first few days it is on the market, and they all like the house, but conclude that it is likely worth $250,000...

...they are likely to not even make an offer.

After all, they may very well think they would need to offer $235,000 or $240,000 in order to hope to negotiate you down to $250,000.

And when a home has been on the market for just a few days, most buyers won't make a $235K or $240K offer if the list price is $265K.

So... in almost all cases, your list price should be very close (or a touch above or a touch below) the price point where you hope to sell.