For much of the past few years, being optimistic and being realistic about pricing your home were one and the same. The last similar home sold for $450K? Let's price your home at $475K. Three offers within days. Yahoo!
But now, higher mortgage interest rates are pricing some buyers out of the market - which makes it ever more important for home sellers to find the balance between being optimistic and realistic when pricing their home.
The last similar home sold for $450K? Perhaps we price your home at $449,500.
A competing home has been on the market for 60 days priced at $455,000? Perhaps we price your home at $445,000.
We can't just throw any price on your home and hope for the best -- we must do a careful analysis of the market, including past sales and current competing listings before determining a final pricing strategy for your home.