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6 Dangers of Overpricing Your Home

So the doom and loom days of rock bottom real estate values seem to be safely gone for now and hopefully we’ll never have to see those terrible levels of foreclosures tank our property values ever again. Presently, most areas in America, especially the Florida gulf coast, are seeing higher property values and lower levels of inventory. With that said, as a seller, you need to stay grounded and understand that you could actually end up losing the chance of selling for top dollar by overpricing.

Even in a seller’s market, overpricing can make your home sit and sit, all the while accumulating unnecessary days on market. Now in a buyer/seller even keel market, the first 30 days is the most important as that’s your best time frame of gaining the highest offer using your new listing leverage factor. But in a seller’s market, with more buyers waiting on the sidelines for new houses to pop up, your first 15 days will actually play more of an important role. In lament terms, even in a seller’s market, it’s still all about leverage.

Just because inventory levels are low and appraisals are coming in higher, does not mean you can fathom a fairy tale sales price for your home. Just like when you have a water leak, you call a plumber or a roofer, always, always seek a licensed Realtor who specializes in your direct area or neighborhood. And don’t just take their word for it, ask them to show you a statistical print out with actual home addresses as well as the homes square feet, beds & baths, year built, days on market and sold or current asking price. This will give you an accurate market update of your area. Happy Selling!

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