Your Tri-Cities Castle–Pricing From a Buyer’s Perspective

Let’s face it–if you’re selling your home, you want top dollar.  After all, you have to pay off the mortgage, fork over the excise tax, closing costs, & agent commissions; hopefully get a return on your upgrades, and come out profitable.  You may start to think of your home as a castle–worth every penny you’re asking.

Is your House a Castle?

Most of us WANT our houses to be worth more than market value.  We’ve put in time, effort, energy, and money, and hope to see a return on our investment.  Put yourself in the buyer’s shoes and ask yourself this question:  How much would YOU pay if you were buying the house right now?  Is it move-in ready?  Updated?  Comparable to to-be-built or newer homes on the market?  If you wouldn’t pay top dollar, why would someone else?

Consider a seller who hopes to ask $10,000 above market value, assuming buyers will come and simply write a low offer if they like it.  Currently in the Tri-Cities there are enough homes listed within a buyer’s price range that a buyer is unlikely to look outside their range.  Most buyers are preapproved for an amount much higher than they are comfortable, but they always begin looking within their comfort range.  If they find a house they like and it’s a good deal, they will make an offer–never even seeing the overpriced home.  It makes sense when you consider the buyer’s purpose–to find the most desirable home within a price range that they can afford.  If the price is comfortable they can afford to buy furniture, make desired improvements, and save money for future big ticket expenses (like a new roof or HVAC system).  If a house is overpriced it may have showings, but no offers, because more desirable homes fall within the price range.  It is unlikely that you can “shoehorn” them into yours.  Today’s market requires the home to be highly desirable or a great deal.  Agents can promote and attract buyers to a house, but we can’t make them schedule a showing or write an offer.  The good news is that houses priced right ARE selling, often within the first month.

Our policy: it’s your house and you can choose the list price (after carefully considering our professional suggestion based on current market analysis).  We can help you pinpoint a number that falls within about $5000 of market value.  Our advice is to list on the high end of market value to give you maximum profit and negotiating power.  Treat it like a business transaction–price it correctly the first time to attract a large number of buyers who will find it desirable, and negotiate with the odds in your favor.  You will save money when you list with our competitive commission rate, and if you’re selling and buying in the same market, the advantage is yours when it’s your turn to buy!

Please call Nick or Valerie at (509)845-4570 to find the value of your home in today’s market.

Homes we’ve sold recently as listing agents

Castle house photo credits

 

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