Pricing: Over priced homes viewed less by buyers

Setting your asking price correctly, is the key to a successful sale. Below find data (from Long Realty) which examines how a home’s pricing, relative to its actual market value, determines the amount of buyers who will view it.

Asking price relative to actual market value                  % of buyers who will view the home

+15                                                                                        10%

+10                                                                                       30%

Market value                                                                      60%

-10                                                                                       75%

-15                                                                                       90%

Overpriced homes attract less buyers. In this competitive market, overpriced homes stay on the market longer and usually have price reductions in order to sell.  Seller’s remember: if your buyer is getting financing the lender WILL require an appraisal.  If the home does not appraise, the lender WILL NOT give the buyer a loan for the previously agreed upon purchase price!  Many deals fall through because homes do not appraise.

Realtor, Lisa Bayless apecialized in Foothills, Oro Valley and Marana home sales.