One of a seller's least favorite things to do once their home is on the market is to lower the price. "Lower the price? No way! That means I'll make less money!" Actually, lowering the price, when done at the right time and in the right way, will usually end up "netting" the seller MORE money in the long run.
Many sellers, and maybe the majority of sellers, end up making less money on their sale because they didn't lower their price at all, they took too long to lower their price, or they didn't lower it enough. Any of these three reasons can cost a seller big bucks.
So, this post is simple... I refer you to some of the most popular price-related articles on this real estate blog site. If you're a seller, I recommend you review these articles, and the others in the "Pricing Property" category. Of course, be sure you consult with your Realtor when it comes to any kind of price adjustment. Since every seller, every property, and every situation is different, nothing takes the place of talking with your Realtor about pricing and anything else relating to selling your property.
- When Should a Seller Lower Their Asking Price?
- Property Not Selling? Here's Why.
- When It Comes to Pricing, The Market is Always Right
- Comparing a Home's Value to a Stock's Value
- Sellers Must "Sell" Their Home 3 Times to "Get It Sold"
- What Does It Mean When Sellers Get Few or No Showings?
- Price High, Lose Money
- Home Pricing... Who Decides?
If you are considering a move within the next 12 months, the current market presents some great opportunities. Prices are still affordable and rates are still super-low, but either, or both, of those things could change at any time. If you have questions or want to discuss your options, please give me a call on my direct line at 916-241-8000 or 530-677-1332.