How Should You Price Your Home in Albuquerque?
There are a lot of different ways you can get a value for your home. You could visit an website and get an automated home valuation, or ask your neighbor down the street what they sold theirs for. However, the only way to know what your house is really worth is to consult with real estate professionals like us. We will come out to your house and do a full consultation, giving you an accurate market value. We take into account the value you have added to your home, as well as the many other features that automatic home value sites don’t offer.
If the market says your home is worth $250,000 and you try to price high at $275,000, you are doing more harm than good. A majority of the time in our market, houses sell within 3% of their listing price, and our listings tend to go only about 1.5% below the listing price.
If you price the home too high, it might sit on the market for a long time until a buyer decides to make an offer. By that point, your home has a negative stigma attached to it, and you’re likely to attract more low ball offers than fair ones.
One thing that happens when you price in that $275k range is the limited number of buyers that will see your home online. If they are searching in that $250,000-$300,000 range they will see the listing, but will see that it’s over valued compared to the other homes at the same price. If you decided to price the home at $250,000 instead, all of the buyers searching in the $200,000-$300,000 range will see your home, giving more and more buyers the opportunity to see your property.
Whenever you have the opportunity to price between two price brackets, it’s a huge advantage. It’s going to help you drive more traffic on your house, and this is how we like to get multiple offers on our listings.
If you do still want to go for premium pricing, the home has to look the part. You’ve got to make your home look like a model home, one that will blow buyers away. If it’s not staged perfectly, buyers will be turned off and begin to discount the home in their head which will lead to more lowball offers.
If a home is priced well, presented well, and marketed well by a professional, you are most likely to get the most money in the shortest amount of time.
If you have any questions, feel free to give us a call or send us an email. We would love to hear from you!