Price It Right, or Take Less

Price Aggressively to Get the Most From Your Sale

Pricing your home is one of the most crucial decisions when putting your home on the market here is San Luis Obispo County. The price is usually the first thing buyers notice about your property. If your home is not priced correctly, it turns away potential buyers and could be stigmatized by sitting on the market too long. Price reductions at this point usually mean you will end up taking less for the property than you would have if you would have priced it aggressively in the first place. If you price your home at or just below market value, you can save carrying costs, mortgage payments and other ownership costs that you will incur the longer the property sits on the market.

The optimum listing price of your home should be based on careful analysis of the current market, comparable homes including the asking and selling price of recently sold properties as well as the current inventory of homes and the different features of the properties. While our inventory of listed homes in San Luis Obispo County is low, this does not mean that buyers will over pay for your property.

When a property is priced properly for any market in San Luis Obispo County, it will encourage prospects to act quicker to sell sooner. Some sellers even “underprice” their property to bring in multiple offers. We definitely have seen this result in several offers within a few days of listing the property. Most serious buyers are well educated about asking prices in the areas they are seeking. They will not waste their time on a home they consider overpriced. However, buyer’s fear they might lose out on a good home when it is priced right and they are less likely to make “low ball offers”. Better pricing can attract multiple offers!

Bottom line, if a home is priced right, the excitement of the market produces a higher sales price. You net more both in terms of actual sale price and less in carrying costs. Remember, be realistic and aggressive in pricing your property and understand that your price should always reflect the current market situation.