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The Importance of
Competitive Pricing
One of the most important
aspects of marketing your home is setting a realistic and competitive asking price. In
addition to assessing the good and bad points of your home, you must have an understanding
of the local housing market in order to set a competitive price.
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I will discuss with you the many factors
that influence pricing, and together we will determine how to sell your home quickly, but
for the highest price possible. Remember, a realistically and competitively priced home
attracts more qualified buyers and usually results in higher offers. |
You may find it helpful to review the following points affecting the pricing of your home: Las
Vegas real estate.
Factors Affecting Your Asking Price:
- Location, square footage, and condition of
your home
- Level of demand for homes in your area
- Amount of competition in your price category
and area
- Recent sale prices of homes of similar size
and in a similar location
- Availability of financing and interest rate
levels
- How quickly you need to sell
- Whether you need to sell in order to finance
the purchase of another home
Factors that Don't Affect the Asking
Price:
- What you originally paid for your home
- The cost of improvements you have made to
your home
- What it would cost to build your home today
- How emotionally attached you are to your
home
Dangers of Overpricing:
- Qualified buyers won't consider your home,
believing it to be financially "out of reach"
- Your home is on the market a long time,
growing "stale," and increasing the perception that there is something wrong
with it
- The highest and best offers usually occur in
the first 30 days of listing your home. An overpriced home misses out in this crucial time
period.
Las
Vegas real estate.
- Your home helps similar homes that are
priced more competitively to sell faster. It demonstrates these other homes offer a good
value.
- Lowering your price later on gives the
impression that your home is "unwanted"
Las
Vegas real estate.
CENTURY 21
Money World
8020 W. Sahara, Suite 100
Las Vegas, Nevada 89117
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