“I’m not making any repairs.” According to the 2018 Home Buyer and Seller Generational Trends Report from the National Association of REALTORS®, 47 percent of buyers under the age of 37 purchased new homes to avoid renovations and problems. If many buyers don’t have the will, skill or time to make repairs, you’re eliminating a number of buyers who would otherwise love your home.
“My home has to be worth more than that.” You may believe your home should be worth more than you paid for it and provide you with enough equity to move. Your listing agent will supply you with tools to understand current market value. The comparable market analysis shows what homes have recently sold for and what other sellers are asking for similar homes as yours, as well as price and sales trends.
“Let’s price it higher and see what happens.” Pricing above comparable homes is a real risk. You’ll outprice buyers who would want your home. Buyers who can afford your home will quickly find that your home doesn’t compare to others.
In any of these cases, you’ll be looking at a price adjustment, and have lost valuable marketing time. Realistically, your home is only worth what the most qualified buyer is willing to pay for your home.
If you have been thinking of selling, have any questions about the market or just want to brainstorm your selling options, please contact Realtor Tawana Bourne for a complimentary consultation! 860-834-120 RealtorTawanaBourne@gmail.com