The #1 Reason Homes Don't Sell In Morrow County

By
Real Estate Agent with RE/MAX Genesis 436567

(Authors note: This is the first in a series of posts from my publication called "The Seven Most Common Mistakes Sellers Make And How You Can Avoid Them").

The #1 Reason Homes Don't Sell In Morrow County (or anywhere else for that matter)

A surefire way to get less than the fair market value for your home here in Morrow County is to overprice it in the beginning. It sounds contradictory, but it is true.Home Pricing

There are several reasons for this. First, if your home is more expensive than the similar homes in the area, fewer buyers will choose to even look at it. Why would they waste their time? And the buyers that do decide to look at your home will likely use it for comparison, to justify their decision to purchase a different home. “See? A similar home but a lot more expensive. We should get the one we saw yesterday – it’s a bargain compared to this one.”

Second, the longer your home remains unsold, the less interest it will generate among the buyers. Eventually, when it’s been on the market longer than the other similar homes, buyers will start to think that there is something wrong with it. And then you are faced with the real possibility of being forced to sell it for less than its real value. So make sure that your home is priced correctly from the beginning. This will save you time, aggravation, and money.

Overpricing is not the only pitfall that sellers fall into, some even under-price their homes. How do you know your home’s real value? By getting a professional Comparative Market Analysis (CMA). A CMA will show you what similar homes in your area are selling for, and how long it takes to sell them. You will be able to see the range of values that your home falls into, and then determine an accurate asking price. I offer CMAs for the homeowners in Morrow County free of charge. Just give me a call at 419-947-4004 or send me an e-mail to herb@herbsells.com, and I will prepare one for you at no cost and no obligation.

Posted by

Herb Baldwin, e-Pro, RealtorMorrow County's HomeSeller, CDPE herb@herbsells.com

RE/MAX Genesis, Mt. Gilead (Morrow County) Ohio, Helping people realize their dream of home ownership in Morrow County (45 minutes north of Columbus) Ohio.

To view any home in Morrow County, call me now at 419-947-4004

See all central Ohio homes for sale at:www.herbsells.com

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Topic:
Home Selling
Location:
Ohio Morrow County
Groups:
RE/MAX Active Rain Bloggers
Tags:
pricing
cma

Comments 3 New Comment

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Rainer
72,651
Amy Robinson
Realtor, Scottsdale Arizona Homes For Sale
London Pierce Real Estate

Herb,  Very well said it is very important to list a home with the correct price the first time.

October 26, 2011 01:31 PM
Rainmaker
691,546
Alan Kirkpatrick
Alan in Austin
Austin Texas Homes

Herb:

Nice post and great point. An overpriced home will get overlooked in the search process. 

October 26, 2011 01:33 PM
Rainmaker
84,229
Herb Baldwin
Morrow County's Home Seller!
RE/MAX Genesis

Amy & Alan/Michele ... I know we all have told our clients this over and over again, but often it's good to see it from another "outsider" with no interest in the transaction, so I'll keep your comments and show them to my next seller who says "we can always come down"  Thanks much,

October 26, 2011 02:41 PM
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Rainmaker
84,229

Herb Baldwin

Morrow County's Home Seller!
How can I help you with Morrow County Real Estate?
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