I’ll bet the sellers of a home, that just sold in Ventana Canyon, wish they priced their home correctly, when they first put it on the market in 2008. This home was first listed for $1,595,000 on 8/08. Its been on and off the market ever since and just sold for $1,099,000. That’s almost 33% below its original list price!!!
If it was priced realistically to begin with, I suspect it would have been sold much sooner and for more!
It’s very tempting for a seller to want to list their home for the amount they would like to receive. This is a big mistake.
A home’s value is determined by market conditions, not by what a seller would like to receive for it. Listing a home, for more than it is actually worth, will only result in it sitting on the market; sometimes for years…
Homes that are correctly priced, from the start, sell faster and usually for more than homes that sit on the market.
Sellers: Always ask your Realtor for a comparable market analysis when determining the list price of your home. Let the market determine the value of your home. Don’t base your home’s list price on what you want to get and hope for the best! You will be sorry.