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Look, pricing residential resale is not an exact science. There is no other home in the 3,700 home inventory in Utah County that is exactly like yours. Here are some thoughts about dialing in the right price.
Over pricing may cause you to miss the "Window of Opportunity." The excitement is highest during the first few weeks a home is on the market. If your home is overpriced during this critical window, it is difficult to generate that excitement again. As very keenly aware and finely tuned agents, we have developed a trick to overcome this issue. But as a "For Sale By Owner", this issue becomes more critical to you. So be careful and be aware.
Testing the market at a price too high for the market to respond can make your home look shopworn, can actually take you longer to sell, and ultimately your home sells for less than if you had priced it properly to begin with.
Watch the sales in your neighborhood. The homes currently for sale have very little bearing on pricing. It is the actual price a home sells for that you need to know.
Educate yourself on the condition of those sales and assess the difference between those comparables and your home.
One of the things sellers frequently overlook is the changing interest rates and the economy. If the sale of your home is delayed, then the purchase of your next home is delayed. If the interest rate changes even slightly during this time, it can affect the purchase and consequently the payment of your neew home.
Let's not forget about supply and demand. Real estate values decrease during times of recession, but increase when the economy is growing strong.
The condition of you home will be competing with other properties for sale. Those that are in top condition and receive top dollar. Just as you would wash and wax a car prior to putting it up for sale, your home should be in "showroom" condition when it is put on the market.
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Our experienced team of agents and experts will be with you every step of the way, meet them.