The price is the first thing buyers notice about your property. If you set your price too high, then the chance of alienating buyers is higher. You want your house to be taken seriously, and the asking price reflects how serious you are about selling your home.
Several factors will contribute to your final decision. First, you should compare your house to others that are in the market. If you use an agent, he/she will provide you with a CMA (Comparative Market Analysis). The CMA will reflect the following:
houses in your price range and area that were sold within the last half-year
asking and selling prices of houses
current inventory of houses on the market
features of each house on the market
From the CMA, you will learn the difference between the asking price and selling price for all homes sold, the condition of the market, and other houses comparable to yours.
Also, try to find out what types of houses are selling and see if it applies to your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic. Understand and set your price to reflect the current market situation.
*Terms & Conditions apply based on Lexus IS250 premium package. With the successful purchase or sale of a property of $1M and higher with Elita Realty,Inc. Two years of lease payments will be paid by Elita Realty, Inc. at the closing. Subject to credit approval of Lexus Financial. Valid only at Lexus of North Miami and Elita Realty, Inc. Elita Realty, Inc. is exclusively responsible for all obligations presided to this advertisement. All trademarks and intellectual property rights belong to the irrespective owners and holders, use of them does not imply any affiliations with/or endorsement by them. Other terms and conditions may apply.