Davis VBC

Archive for August, 2009

When you’re ready to sell your house, you better have a good understanding of what it’s worth. You (and your agent, if you’re using one to sell your house) should analyze what comparable properties are currently selling for in your neck of the woods.

If you need to sell your house without wasting a ton of time and energy, do what smart retailers do: Price it to sell. We’re not advocating that you give your property away, so to speak, but we are suggesting that you avoid inflating your asking price to a point far above what the comparable suggest that your house is worth.

You may be tempted, particularly when you’re in no great hurry to sell, to grossly overprice your house in the hope that an uneducated buyer may pay you more than the property is really worth. The danger in this strategy is that you won’t find a fool who will part with all that money for your overpriced property, and no one else will bid on it. Then, as you lower the price closer to what the house is really worth, prospective buyers may be wary of buying your property because of the extended length of time that it’s been on the market.  In the end, you may have a hard time getting 100 percent of what your house is really worth.