Is Your House Overpriced

Dated: July 31 2016

Views: 774

A house that is priced correctly gets activity (showings) and offers. Do you have your house listed and no one is showing it? Or it is being shown but no offers are coming in? Or offers are coming in but they are "too low?" Common sense and logic would say that the house is overpriced. Here are some other signs that indicate your house is overpriced

  1. The price is higher (significantly so) than similar listings in the neighborhood and surrounding area

  2. The Realtor you hired is the one who said it was worth the highest price

  3. There is little traffic to the online listing or there is little activity once people see the online listing

  4. The house has been personalized (sometimes at great expense) to your taste but those items don't have "universal appeal" or value to buyers

  5. Feedback from showings indicates that price is the issue (or one of them)

  6. The listing has expired after 6, 9, 12 or more months and it still hasn't sold

  7. Competing listings within the area ARE selling 

  8. Add in the 3 that were given in the opening sentences: No showings, No offers, Low offers and you have 10 signs that your house is overpriced

As yourself this question: If you wouldn't look at an overpriced listing, why would any prospective buyer do so?  And why would their Real Estate Professional allow them to?  

Bottom line: If the objective is to get the house sold, it is going to have to be priced properly in order to accomplish the objective. 

Blog author image

Diane Mitchell

I am a Licensed Real Estate Associate Broker and work full time helping people to achieve their dreams of home ownership or their dreams of selling their home or both. I love working with buyers and s....

Want to Advertise on this Site?

Latest Blog Posts

Fall Apples And Apple Cider Vinegar

Fall is my favorite season in Nyack and everywhere else. The cool, crisp air and the fresh apples have always been the best parts of the season for me. And, now I've learned how to make my own Apple

Read More

August Holidays You Probably Did Not Know About

It seems there's a new holiday every time I turn around! There are some interesting ones in the month of August and I thought you'd like to know about them. My favorite? Probably the "Just Because"

Read More

Killing Weeds Naturally Around Nyack

I don't know about you, but my flower beds need a thorough de-weeding! Because of my dogs, though, I don't want to use chemicals to accomplish the task. So, here are some other ways to keep the

Read More

Decreasing Plastic Waste In Nyack

Great article attached regarding "swaps" to make to reduce plastic waste in our everyday lives. And, please be gentle with our watery natural resources (rivers, lakes, oceans, etc.) The number of

Read More
Fair Housing Icon NY Fair Housing Notice