Century 21 Group One

REAL ESTATE NEWS
with Stormy Leonard
Strategic Pricing
In A Slowing Market
The price you ask buyers to pay for your home is always critical, but never more so than in a softening market. Pricing at the high end is risky when the local inventory of homes for sale is mounting and buyers have their pick of desirable properties.
Savvy sellers know they have to convince the buyer that the home is worth the asking price.
The buyer's realtor will be doing what your seller's realtor is doing with you - giving the the buyer figures that shows what homes of comparable size and condition in your neighborhood have recently sold for. Try to put yourself in the buyer's shoes. If comparable homes have sold for a certain amount, what would convince a buyer that your home is worth more? If there is no tangible factor (such as a swimming pool or a remodeled kitchen) that adds value, then price your home at a certain price - or even slightly less to attract attention.
Remember that most lenders require the home to appraise for the contract price before they will underwrite the mortgage loan. Be sure you request "current" data and a price trend analysis for your area before establishing a sales price.
For professional advice on all aspects of buying or selling real estate, Call me at
Century 21 Group One
"The Leonard Team"
Stormy (918) 688-4072
Johnny (918) 630-4837
email us at:
C21Stormy@aol.com
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