I'm worried we priced too low. (agent, accept, prices, offers)

[bigcaat]

Our house just went on the market. When we signed with the agent, she sent us an email that said we could price it between $419 and $439. I misread it and thought it said that the top of our comps was $439. It's actually probably more in the $450-$460 range.

While searching for my home on the MLS I saw two homes, not nearly as nice as ours listed for $449 and $445 respectively. We priced ours at $429.

Granted, we would like it to sell quickly, but not at the expense of losing a lot of money. Everyone on the realtor 'caravan' said it was priced 'very well' and that they thought it should sell quickly.

Did we price too low?

Caat

[brookdaleresident]

It probably depends on your area and how many homes are on the market. When a house in my area is priced "to sell," it usually gets multiple offers, and the house sells above list. The houses listed higher than yours could possibly be overpriced. I'm finding that prices are all over the place; it's very frustrating.

[oldmanbob]

You can always change, so if you get lots of interest, even after offers, talk to your agent, and its all about what you need to make, so don't be greedy, and remember, with the saturated market, you might have made the best decision.

[dogmom]

Better to be a little underpriced than overpriced..I agree with Brookdaleresident, prices are all over the place for the same or similar homes. It's crazy..count your blessings if it sells

[palmcoasting]

The most important thing is not what you are seeing the other homes listed at but what other homes, which you would no longer being seeing, SOLD at. And that is more than likely where your agent got her comps from.

[bigcaat]

Thank you, all, for your input. All of these comments make me feel much better about my decision.

And, dogmom, you phrased it in my language which helps a lot.

I think I'm just freaking out right now because this was our first home and 10 years of our lives. Although I know it was the right decision to move, for other reasons, I really loved that home. It made me teary when she sent me the virtual tour. Isn't it beautiful?
VisualTour

It also made me feel very good because she thanked us for being so open to having it staged and going the extra mile to do everything make it stand out and show well. I guess not everyone does that. Then seeing the other homes that weren't nearly as nice as ours, I started questioning myself.

Thank you all for your input. Isn't the internet wonderful?

Caat

[CouponJack]

Very simply, the market will decide whether your priced to low or not...

don't worry

[Silverfall]

Home prices are only as good as the agent doing the CMA and the seller willing to accept that price. Just because they are LISTED that high doesn't mean they are going to SELL that high.

It could be a rookie agent that priced the $449 one, or an agent that "bought" the listing. Who knows.

If the comps say $419-$439 for SOLD homes, in my opinion go where the data is showing the DEMAND is. The rest is just a waste of time.

[dogmom]

Originally Posted by bigcaat

Thank you, all, for your input. All of these comments make me feel much better about my decision.

And, dogmom, you phrased it in my language which helps a lot.

I think I'm just freaking out right now because this was our first home and 10 years of our lives. Although I know it was the right decision to move, for other reasons, I really loved that home. It made me teary when she sent me the virtual tour. Isn't it beautiful?
VisualTour

It also made me feel very good because she thanked us for being so open to having it staged and going the extra mile to do everything make it stand out and show well. I guess not everyone does that. Then seeing the other homes that weren't nearly as nice as ours, I started questioning myself.

Thank you all for your input. Isn't the internet wonderful?

Caat

Caat, it's a lovely home..wow Morro Bay, one of my favorite spots. If we could sell this place I would consider yours, I am not kidding...

We were in our first house for almost 19 years..talk about memories..we moved into that house when our oldest son (now almost 30) was 4 months old and brought his now 27 year old brother home there from the hospital. Lots of birthday parties, Christmases, first days of school, lots of memories.
When we sold it the oldest was 19 and the youngest was 16 and it was tough, but we made a little money on it, it was past time to leave that neighborhood, and we were moving on to a much better home...I remember the last day we were there cleaning, I took pictures of all the empty rooms. Then we got in the car and drove off, I never looked back.

It'll be ok, I promise!
Barb

[bigcaat]

Originally Posted by dogmom

It'll be ok, I promise!
Barb

Thank you, Barb. It is hard. Yes, Morro Bay is a beautiful place, but I now really understand the meaning of the saying, "It's a nice place to visit, but ... "

I will miss that house and being so near to Big Sur and Montana De 'Oro, and the beauty of it all, but the people, although very 'pleasant', were just not "us".

From the outside we had everything there, good jobs, a beautiful home ... but we just couldn't connect with the people. Ten years and we didn't have one close friend. (And we are not people who are hard to get to know.) People are very 'nice' there, but they want to keep their distance.

On top of that, I don't think that I could have ever gone farther in my job than I had been for the past 9 years. I guess we are just 'big city' folk. I'm from L.A. and my husband is from NY. We missed having things to do and people to talk to.

I found it interesting the comment on your profile for 'location.' "Not where we want to be." That's how we felt. I loved that house and the beauty, but it just wasn't where we wanted to be if we could have no social contact.

We moved to San Diego where he and I met. Already the difference is palpable. But it was a miserable move -- the hardest I've ever gone through physically -- and we are in a temporary place until the house sells and we can get enough money out of it for a down payment for a new home. We are fortunate to have a decent amount of equity in it. I've been religious about paying more towards the principal every month since the day we bought.

But in the meantime, I'm sort of in limbo which makes it harder. I'm actually still teaching a class up there, (they've let me do the last 3 weeks online, so my 650 mile round-trip commute to work is over as of last week, thank goodness) but I do still feel a tie up there until the semester is over.

Then, when I saw that virtual tour, I really felt the nostalgia you spoke of. I thought of the holidays and the cats we lost while there ... we sure can accumulate a lot of memories over time, can't we?

Where are you in California and where do you 'want' to be?

Thanks for your words and insight. They help.

Best,
Caat