In the real estate world, a large group of people are looking to buy homes at any given time. These are the seller's best prospects. This ready group of buyers is wasted, however, if your house is overpriced.
People who have been shopping around and are accustomed to comparing properties will probably refuse to look at your home with an unrealistic price tag. You and your real estate agent may know that you would sell for $10,000 less, but the buyers do not know this. As a result, your overpriced property receives little attention.
Don't be fooled into thinking that your house is worth more than someone is willing to pay for it, or that it's just a matter of waiting for the "right" buyer to show up. Surveys show that the longer a house is on the market before being sold, the greater the drop in price from the listing price when it does sell. The buying public eventually sets an accurate price. An overpriced house just sits on the market, waiting for a price adjustment before it will attract a buyer.
Do These Real Estate Tips Really Apply to YOU?
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It's our job to personally advise homebuyers and sellers. Ask us if any tip that we've included here really applies to your situation.
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Where was the famous final airport scene in the 1942 classic "Casablanca" filmed?
The scene where Humphrey Bogart says goodbye to Ingrid Bergman was actually shot on the east side of the Van Nuys Airport.
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