Should You Lower Your Price On Your Charlotte Home for Sale?

Should You Lower Your List Price on Your Charlotte Home for Sale?

The Key to RealityvilleAre you trying to sell your Charlotte home and finding that it is just not selling?  In fact, showings have dwindled to a random few?  This may be due to a number of reasons beyond your control, such as its location or the fact that the home layout is somewhat unusual. These are issues that you CANNOT CHANGE!

If you are struggling to sell your home, there is one factor that you CAN change that may alter your results – the price.

Most homeowners are reluctant to lower the price of their home, because it feels somewhat like they’ve been defeated.  However, while you certainly want to make as much money from the sale of your home as possible, it is far better to sell your home at a slightly reduced price than to let it sit on the market for a long time.

Have You Had Many Showings But, Just No Buyers?

If you have had many buyers come through your home but, no one place an offer, this is a sure sign that your price is too high.  These lookers may be interested in your home but, are waiting for the price to fall before they would even consider buying it.

How Long Has Your Home Been On The Market?

Has your house been on the market for more days than the average for your particular neighborhood?  If it has, the longevity is most likely due to the price.  Allowing your home sit on the market for a long period of time is NOT such a good idea as Charlotte home buyers will begin to wonder what is wrong with it.  This can turn people off and delay your sale even further, despite your feelings that your home is price right.

Below is data pulled in 2010 to simply demonstrate the impact of overpricing.  The current average days on the market are 83 for sold homes during the past 12 months.

Overpricing vs. days on the market

Data courtesy of CMLS; deemed reliable but, not guaranteed

Do You Have A Moving Deadline?

Perhaps you have a job offer in another city or you have already purchased another home, so you need to sell your house ASAP.  In this case, reducing your price can be a great way to generate buyer interest and ultimately, get your home sold.  Remember – it doesn’t matter how badly you need the money or what you THINK you’d like to make on the sale of your home, a home is only worth what the buyer is willing to pay for it.

Check out this graph that shows the impact of over-pricing.  We are aware that you don’t think your home is over-priced.  However, if it wasn’t over-priced, it probably would have sold in the first 30 days on the market – or at least in the average amount of time for your particular community.

 

The results of overpricing your Charlotte home for sale

Remember, of the other factors that buyers consider (floorplan, lot, style, location and condition of the home) ALL are REFLECTED IN THE PRICE that a buyer is willing to pay!

Need to get your Charlotte home sold?  If your home has been on the market more than 30 days, you definitely want to seriously consider reducing the price.  To learn more about selling your home, contact me at [email protected] or phone me at (704) 491-3310.

© Debe Maxwell | Savvy + Company Real Estate | [email protected] | Should You Lower Your List Price on Your Charlotte Home for Sale?

Originally posted by Debe Maxwell at: http://activerain.com/blogsview/4225375/should-you-lower-your-list-price-on-your-charlotte-home-for-sale-#sthash.7dHWrcHG.dpuf

Debe

I am a full-time REALTOR® personally specializing in historic homes and luxury home sales in the Charlotte NC real estate market. My team specializes in a variety of areas including first time home buyers, condos and townhomes as well as single family home sales and marketing.   Follow me on Google+

More Posts - Website - Twitter - Facebook - LinkedIn - Pinterest - Google Plus - YouTube - Delicious

We'd love to hear your thoughts!