Author: U.S. News
Your Home’s Price May Not Be to The Market’s Liking
Talk to any real estate expert, and the first thing they’ll tell you is that a house is selling slowly because the price is too high. Consider this small, informal survey:
“While real estate is all about location, price is, by far, the main reason why some homes linger on the market,” says John Walkup, co-founder of UrbanDigs, a New York City-based real estate data analytics company. “The seller’s price should be near the buyer’s value perception, and when that’s off by more than a reasonable level, the home will be ignored.”
“Proper pricing is so important,” says Bill Kowalczuk, a real estate broker with Coldwell Banker Warburg in New York. “If you are overpriced and aggressive with the number, your home will just sit there.”
“One of the most common reasons that a home isn’t selling is that it is priced too high compared to comparable properties in the area. This is one of the most significant mistakes that can be made,” says Lisa Robinson, an Atlanta-based real estate advisor with Engel & Völkers.
