What Price Should You Ask For Your Home? 

I know that you want to ask the highest price possible. That's why I research the current real estate market to see what the highest reasonable price should be.  Here are a few hints on setting the right price:

• Often your home's value depends on recent selling prices of comparable homes in your area.  After reviewing these selling prices, the asking price for your home is adjusted according to current market trends.
• Buyers often look in the price range determined by their monthly ability and down payment.
• Buyers can be very knowledgeable in their price range and then purchase by comparison.  Unreasonable asking prices are an immediate turn-off.
• Inviting a potential Buyer to make an offer shows that you are willing to bargain.  But if your asking price is outrageous, the Buyer's offer will most likely be unreasonable.
• It is necessary to offer competitive pricing, terms, and conditions for your area.  This will help you sell faster and get your home's full market value.

Factors That Detemine Your Sales Price 

There are three factors that determine if your home is a marketable listing - Price, Financing, and Time.

Price - If your home is priced too high, you must be willing to wait for the Real Estate Market to eventually catch up to the "asking price" of your home through inflation.

After deciding on a price, try the old retail trick - drop the amount down a bit.  Instead of pricing the listing at $440,000, consider dropping it down to $339,990.

Financing - You may not realize that the Buyer's financing abilities can have a tremendous impact on the successful sale of your home. Try to offer very attractive financing options. Consider carrying the financing yourself at a below-market interest rate, or preparing your home for government financing. This could open the door for many Buyers who otherwise could not consider your home.

Time - If your time frame is important to you, then you must be willing to lower the price of your home.