Pricing Your Home for Quick Sale

The market trends are undeniable. Everyday there's more people searching to buy homes. Consequently, setting up the right price is one of the most important considerations you can do when preparing your home for quick sale.

A recent review of the latest Home Price Index reveals home values have risen at over 6% a year over the past two years but have started to slow to 3.6% over the last 12 months. By this time next year, CoreLogic predicts home values will be 5.4% higher.

Downside of Over-pricing your Home

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will  dramatically decrease the number of buyers who will see their listing (see the chart below).

Instead of the seller trying to 'win' the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing against each other over the house.

The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your home will be seen by the most potential buyers. It will sell at a great price before more competition comes to the market.