Tell Tale Signs of An Overpriced Home

Overpriced Home? See The Facts!

If you are selling your home, it is truly important to price it correctly from the beginning. The chances are the buyers that are out there looking in a particular price bracket will know that the house is overpriced and will discard looking at it or watch for a price reduction and then come in with a low ball offer. 

Here are some tell tale signs of that overpriced home

Neighborhood Homes are Selling But Yours Is Not

This is often the case when a home is overpriced. You will see that other homes are selling and  yours is not. Talk to your realtor its perhaps the time for a price check

You Have Few or No Showings

Season buyers that are out there house hunting have done their homework and they are probably as knowledgeable as most real estate agents when it comes to home pricing. They will be able to scan the homes for sale in an area and eliminate homes on the list without going to see them knowing they are over priced

You Signed With The Realtor With The Highest Valuation

Remember when you called a few agents for a valuation and the smartest agent with the highest valuation understood how you felt that your home was worth more? Well possibly that agent is the one that wanted the mandate and knew you would have to drop your price sooner or later and it was just a matter of time. If you get 3 valuations and two are similar, something is wrong with the 3rd one.

Feedback Has Been That The House is Overpriced

When you have had a few showings and the feedback has stated somewhere that its a lovely home but it is overpriced. The buyers agent has groomed his/her buyers and according to a CMA that he would have prepared, your home is incorrectly priced

You Have Not Received an Offer or You Have Had a "Low Ball" One

Buyers are looking at your home, but sadly they are not buying yours. One of three things have happened as a result of this - 

• either they have discarded your home as way too overpriced or 
• the buyers agent has used your overpriced home as a springboard to sell a better priced home
• the buyer who loves your home has come in with a low ball offer

In all honesty, its best to price your home correctly from the start. You have a better chance of starting a bidding war and possibly getting a better offer often for more than the asking price, than if its overpriced to start and remains on the market a long time

If You are looking for a professional realtor, one who has experience and knowledge in your market, please let me assist you with your home sale.

I look forward to working with you to get your home sold. Call 704-534-9334 or email Karen@KarenBrowder.com