Orange County Housing Report

Orange County Housing Report

DANGERS OF OVERPRICING

Pricing – A key factor in selling a home quickly and for top dollar is to avoid price reductions.

A house is not just a building with rooms; it is a home where so many memories are made.  It is where a baby takes its first steps, kids learn to ride their bikes, and numerous birthday celebrations and family gatherings occur.  A home is where life transpires and is a special piece of a family’s history.  A home is emotional, more than just a dwelling.

In pricing a home, many sellers have an extremely difficult time pulling the emotion out of the equation.  After all, it is worth so much more in factoring in the memories.  Unfortunately, when it comes to selling a home, none of this actors into the price.

Ultimately, when a home initially comes on the market, the price will determine a seller’s success.  One of the most crucial steps in being able to  sell quickly, open escrow, and obtain the highest possible net proceeds from the sell of a home is to carefully arrive at its Fair Market Value.   Yes, the current market is a sizzling Hot Seller’s Market where homeowners are obtaining multiple offers that are remarkably close to their asking price.  Yet, in every price range, homes sit without success, leaving these sellers wondering what in the world they are doing wrong.  33% of all homes in range County have been on the market for over two months.

 

 

 

 

 

Excerpt taken from an article by Steven Thomas

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