• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

myHBliving

Huntington Beach Lifestyle

  • Real Estate
    • Instant Home Value
    • Start a Home Search
    • Fall 2021 Buyer’s Guide
    • Fall 2021 Seller’s Guide
    • Communities
      • Downtown HB
      • Northeast HB
      • Northwest HB
      • South HB
      • West HB
  • Information Hub
  • Huntington Beach Living
    • Lifestyle
    • Outdoors
    • Restaurants
    • Events
  • Fundraisers
  • Contact

Why It’s Critical To Price Your House Right

March 7, 2022 by Megan Gullotta

Why It’s Critical To Price Your House Right | Simplifying The Market

When you make a move, you want to sell your house for the highest price possible. That might be why many homeowners are eager to list in today’s sellers’ market. After all, with record-low inventory and high buyer demand, many homes are selling for more than asking price. Data from the National Association of Realtors (NAR) shows 46% of homes are selling above list price today.

But even in a market like we have now, working with an agent to set the right asking price is critical, as pricing it too high or too low could have a negative impact on your final sale. Here’s why.

Pricing Your House Right Is Crucial Even in a Sellers’ Market

The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, you could leave money on the table, which decreases your future buying power if you undervalue your house.

On the other hand, price it too high and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home.

In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see a bidding war, too. And when a bidding war happens, you’ll likely get an even higher final sale price. Plus, when homes are priced right, they tend to sell quickly.

To get a look into the potential downsides of over or underpricing your house and the perks that come with pricing it at market value, see the chart below:

Why It’s Critical To Price Your House Right | Simplifying The Market

Lean on a Professional’s Expertise To Price Your House Right

There are several factors that go into pricing your house and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. A local real estate advisor is knowledgeable about:

  • The value of homes in your neighborhood
  • The current demand for houses in today’s market
  • The condition of your house and how it affects the value

A real estate professional will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end.

Bottom Line

Even in a sellers’ market, pricing your house right is critical. Don’t rely on guesswork. Let’s connect to make sure your house is perfectly priced.

More Posts

Homeownership Could Be in Reach with Down Payment Assistance Programs

A Key Opportunity for Homebuyers

Two Reasons Why Today’s Housing Market Isn’t a Bubble

Why an Agent Is Essential When Pricing Your House [INFOGRAPHIC]

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

STAY UP TO DATE!

Never miss a thing in Huntington Beach! Let me keep you in the loop by getting fun local events & local real estate news delivered straight to your inbox!

Your information is never shared.

Categories

  • Fundraisers
  • Information Hub
  • Lifestyle
  • Local Events
  • Outdoors
  • Restaurants

Footer

Megan Gullotta
Realtor

Connect with Me on:

  • Facebook
  • Instagram
  • LinkedIn
  • YouTube

Copyright © 2022 · Agent Focused Pro on Genesis Framework · WordPress · Log in

Seven Gables Real Estate. Equal Housing Opportunity. Agent Lic. #01964682 | Office Lic. #00745605.
© Copyright 2020 myHBliving | Megan Gullotta. All Rights Reserved. Privacy Policy