Upcoming Changes for Some Home Buyers & Homeowners Under the new tax law, homeowners will have decisions to make in 2018,
Buyers Can See How Sellers Price Their Homes
How Sellers Set Their Asking PriceFor you to understand how much to offer for a home you’re interested in, it’s important for you to know how sellers price their homes. Here are 4 common strategies you’ll start to recognize when you begin to view homes:1. Clearly Overpriced:Every seller wants to realize the most amount of money they can for their home, and real estate agents know this. If more than one agent is competing for your listing, an easy way to win the battle is to over inflate the value of your home. This is done far too often, with many homes that are priced 10- 20% over their true market value.This is not in your best interest, because in most cases the market won't be fooled. As a result, your home could languish on the market for months, leaving you with a couple of important drawbacks:
- your home is likely to be labelled as a "troubled" house by other agents, leading to a lower than fair market price when an offer is finally made
- you have been greatly inconvenienced with having to constantly have your home in "showing" condition . . . for nothing. These homes often expire off the market, forcing you to go through the listing process all over again.
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