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How to Set the Right Price When Selling Your Home

If you are thinking about selling your home, one of the first issues will be to set the price. Of course you will want to get a fair price, so you can't set the price too low. Although when you price it too high you may have fewer interested folks looking at it. You need to come up with a price that is somewhere in the middle. We will be presenting some good solid advice on the subject as you read this article.

Across the board, the real estate market is very sluggish right now. Sadly, many homeowners that bought their houses a decade ago have seen an actual loss in the value of the home they have lived in for years. Even though your situation may not be great, you have to be realistic in regard to where you stand. It is possible that the real estate market will take an upturn. This would be great, but you'll have to wait years to see this happen. Although the current value of your home may be low, if you want to sell now, you will have to sell it for this lower price. Your home has depreciated, and therefore, to get any bidders, you will have to price it for it's value right now. When deciding how much your home is worth, look around and see what nearby homes are fetching this year. You have to be careful about putting your home on the market with an asking price that's to high, even if you're willing to go down in the future. While you might think this makes sense if you're not in a big hurry to sell, it can work against you. It's an established fact in the real estate industry that the longer a house is on the market, the harder it is to sell. After a certain amount of time, a home starts to be considered a stale listing and no one pays much attention to it. In other words, at some point a house gets the reputation of being unsellable no matter what the price. So, while it's fine to give yourself some room for negotiating, don't drastically overprice your house at any time.

If you've been showing your home to potential buyers for a while but still haven't received an offer, you should reassess your asking price. More than likely, there is some type of appeal with your home if people keep trying to see it. What you can get from this is that you're asking price is probably too high if people are not making offers. It is possible that they are looking for homes in your immediate area as well. Homes in the area may be similar to yours. You will not sell yours if their asking price is lower. Therefore, if this is happening, lowering your price can be to your benefit. You can make quite a difference just lowering the price even 5% - people will definitely be looking at your house instead.

Don't decide on how to price your house for sale until you've carefully considered the above factors. Whether you do all of your own research, or rely on the help of an appraiser or real estate agent, it's important to find a fair price that isn't too high or too low. You want to sell your home as quickly as possible, and finding the right price plays a major role in this process.