In the current market we are in, it’s a good strategy to price a home at the lower end of the scale for homes that have recently sold in your area. Rather than to shoot ahead of the target price and leave room for negotiation, it’s better to shoot behind the target, and price a home under where you think it will sell. This creates multiple offers, a lot of buzz, and results in the home selling over list price with buyers competing to purchase the house. A recent example in Castro Valley… List price $699,950 Sold price $780,000 with 14 offers. A good agent will discuss these strategies with you and determine whether this is a good idea in your specific situation and segment of the market. It’s not always the right strategy, but usually is. There are exceptions to this rule.
Posted in: FAQ for Sellers