How you price your property can make the difference between selling it quickly or having it remain on the market for a long period of time.
It's important to know what your home will sell for in any housing market, good or bad. As a homeowner, you will have to make the very important decision as to the price and terms you will ask for your home if you decide to sell it.
Depending on where you live, houses may be sitting unsold for months and prices may actually be falling. Comparable's may not reflect the actual reality of the times so you should price your home with current trends.
If you want to sell your home in a reasonable amount of time, think about pricing it right. Although you want to get as much out of your home as possible, having it sit on the market for a long period of time may not be of a benefit for you.
The real estate market is still depressed and with so many foreclosures to choose from, many buyers are opting to see if they can pick up a home either by making offers on REO's or working with banks on a Short Sale purchase.
Either way, the home many buyers hope to eventually purchase may be cheaper than one that is being sold by a seller who is not in foreclosure, especially if the seller refuses to go down on his asking price.
In other words, you should be cognizant of what is going on in your neighborhood. It may take a lot longer to get a qualified buyer than you may think due to the sluggish job market and the bad credit situations that a lot of people are in today.
You should recognize trends and seek information from realtors who are knowledgeable in your area. The right price may mean putting your home on the market for less than you want. But if you are looking to buy a replacement home, the one you end up buying may be cheaper than you think. In many ways, everything may balance out in the end.
Many would be sellers are finding that they may have to stay put until the economy gets better or they may have to make alternative plans. The price you decide on may mean the difference between selling your home quickly, having to leave it on the market for a long time, or not selling at all.