July SunCrest Market Update

Pricing Your SunCrest Home
The number of homes for sale is currently lower than expected. In a market like this, real estate professionals are often pressured by sellers to put a premium price tag on their listing, or to float a high asking price and just “test the market.” Many have seen a neighbor’s home sell quickly and for a higher price than they anticipated, so the temptation is understandable.

Selling Your SunCrest Home Now Versus Later
This strategy to list high and think, “If it doesn’t sell, we can always lower it later,” can potentially create a few problems as you are trying to sell your SunCrest home.

Pricing too high can potentially:

  • Limit the number of likely buyers who are interested in your home because you’ve priced it higher to allow for “negotiation room.”
  • Paint a negative picture in the buyer’s mind. If buyers thinks your price is too high, they may jump to the conclusion that you’ll be unreasonable in negotiations.
  • Keep your home from selling quickly. The longer your home is on the market, the less likely it may be that you get a strong price. Think of when you were looking for homes. When you found a home had been on the market for long period of time, what did you think? What’s wrong with it? Why hasn’t it sold?

Pricing Your SunCrest Home Right The First Time
Of the SunCrest homes sold from January 1 to June 30 2015, the homes that got closest to their listing price were also the ones sold the fastest.
SunCrest Sold to List
Our Take
Accurate pricing comes down to having a full understanding of our niche neighborhood, style, and size of homes–just to name a few factors–and it’s not just throwing together a quick, free, comparative market analysis. Oak Vista is not the same as Eagle Crest. DR Horton will not be the same as the future developments in SunCrest.

If you’re selling your home, ask the agent being interviewed to explain his/her strategy on their pricing recommendation. How long will it take to sell at that price? How close to their recommendation will it actually sell for? In our opinion, great agents will tell you what you need to know rather than what you want to hear.

Posted on July 27, 2015 at 12:49 pm
Scott Steadman | Category: SunCrest Market Updates | Tagged , , ,

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