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Old 05-02-2008, 05:06 PM
Status: "Where has summer gone??" (set 28 days ago)
 
Location: Taylors, SC
8,719 posts, read 14,271,499 times
Reputation: 2674
Default Quick sale

How do you price your house to get a quick sale? Do you price it a certain percentage below others in your area? I'm trying to attract buyers to sell my house quickly.
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Old 05-02-2008, 06:07 PM
 
Location: Cary, NC
19,402 posts, read 30,242,542 times
Reputation: 16346
Quote:
Originally Posted by beckycat View Post
How do you price your house to get a quick sale? Do you price it a certain percentage below others in your area? I'm trying to attract buyers to sell my house quickly.
You put up a price that hurts when you look at it.
If you are very proud of your house, it should hurt a lot.

Price is a function of condition, also.
If it needs attention; if you haven't done a prelisting inspection and worked off all the gigs; if it has functional deficiencies; these all lower the price.

Since you are not using an agent, you should be aware that the vast majority, just over 70%, of owner-sellers say that biggest mistake was overpricing the home.
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Old 05-02-2008, 06:58 PM
Status: "Where has summer gone??" (set 28 days ago)
 
Location: Taylors, SC
8,719 posts, read 14,271,499 times
Reputation: 2674
Hi Mike, I know you from the Raleigh forum. I don't have an agent yet, b/c I'm feeling things out. The house is only 4 years old and needs nothing. Most of the houses in the neighborhood are 20 plus years old.
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Old 05-02-2008, 07:08 PM
 
Location: Montana
2,203 posts, read 6,043,595 times
Reputation: 1022
Pricing can be tricky, and the pricing stategy is going to vary depending on the local market and the average days on the market. It's even going to vary from neighborhood to neighborhood.

It's important to know what other similar homes are listed for, but it's even more important to know at what price point they're selling. Sometimes whole neighborhoods are hanging out high and nothing is selling in those areas, even after months on the market. But you can look at other neighborhoods where the sellers have gotten aggressive with their pricing and things are moving quickly by comparison.

So . . . a thorough knowledge of your local market is step 1. Step 2 for a quick sale is to price at a very competitive price (at or slightly below market value, not as compared to active listings which may be quite a bit higher and just sitting). However this strategy would change depending on how much buyer activity there is in your particular market.
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Old 05-02-2008, 07:17 PM
 
Location: Cary, NC
19,402 posts, read 30,242,542 times
Reputation: 16346
Quote:
Originally Posted by beckycat View Post
Hi Mike, I know you from the Raleigh forum. I don't have an agent yet, b/c I'm feeling things out. The house is only 4 years old and needs nothing. Most of the houses in the neighborhood are 20 plus years old.
Hi, Becky, yes, Raleigh...

Hey, it has to be spotless, and great condition to get a quick sale at a good price.

But... To price it, like Gretchen says, days on market, number of weeks or months of inventory on the market, and any other details that your agent may pick up on.
Listen to your agent, who should be bringing experience from many home sales, as to what the impression of the home is, and the price it may command.

Be very careful about selecting the agent who will tell you the highest price you can get. That may be right, or it may be a ploy just to get the listing, planning to come back in a few weeks to tell you you need to cut the price.

Be aggressive with the price from the first day.
People who may buy at a lower price may have already bought something by the time you decide to lower the price.

Good luck.
We need you up here in Raleigh....
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Old 05-03-2008, 05:56 AM
 
15,459 posts, read 20,242,535 times
Reputation: 6507
If you go FSBO you ask less than if you have to pay an agent and you can have an inspection done and put it in your add so buyers know there isn't a bad catch about you pricing it low. Most lower priced homes are short sales but I have seen more and more people doing FSBO's and pricing them lower to compete with short sales, and go FSBO and if you have a good house and a great location than you have a better chance of selling fast. Take good pictures and clean your home (if you haven't done it yet) and put fliers in the box on the pole in your yard and don't be upset if they are taken by the neighbors first. Place new once everyday. It helped me a lot.
Good Luck.
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Old 05-03-2008, 06:21 PM
 
Location: Chaos Central
1,123 posts, read 2,609,101 times
Reputation: 830
Quote:
Originally Posted by MikeJaquish View Post
You put up a price that hurts when you look at it.
If you are very proud of your house, it should hurt a lot.
Mike, you almost made me spit out a mouthful of perfectly good wine.

Very funny but also very true -- a "priced to sell" dollar amount these days may certainly make the seller feel pained.
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Old 05-07-2008, 07:59 AM
 
Location: Gilbert - Val Vista Lakes
6,066 posts, read 8,158,885 times
Reputation: 3666
Quote:
Originally Posted by beckycat View Post
How do you price your house to get a quick sale? Do you price it a certain percentage below others in your area? I'm trying to attract buyers to sell my house quickly.
Here is a thread on pricing it right:
What is the Right Price
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Old 05-27-2008, 07:42 PM
 
Location: Rye Brook
178 posts, read 443,960 times
Reputation: 55
You have to look at your competition and what has sold recently.

High supply low demand lower price.

Low supply high demand Higher price.

Pricing is an art. Call a few Realtors and look at
What's on, what's sold.
How many are on the market and how many sold in the past year.

Be really competitive and it will sell.

DON'T follow the market, ( Price to high, then reduce after the prices go down)

All the best!

Kevin O'Shea
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Old 05-27-2008, 08:03 PM
 
Location: DFW - Coppell / Las Colinas
17,660 posts, read 16,455,542 times
Reputation: 16507
Default Stay safe

Beckycat - I guess I'm getting a little more paranoid as I get older but I won't let my wife do open houses or work with unknown buyers for safety reasons anymore. If you do sell it yourself be careful & screen the people who come to see the house and put away any valuables.

If you have a significant other you might make sure they are there also. Don't let anyone in unless they've called first.
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