The price is the information that most buyers receive. If you set your price too
high, then the chance of alienating buyers is higher. You want your house to be
taken seriously, and the asking price reflects how serious you are about selling
your home.
Several factors will contribute to your final decision. First, you should compare
your house to others that are in the market. If you use an agent, he/she will provide
you with a CMA. The CMA will reflect the following:
*houses in your price range and area sold within the last 6 months
*asking and selling prices of houses
*current inventory of houses on the market
*features of each house on the market
From the CMA, you will find out the difference between the asking price and selling
price for all homes sold, the condition of the market, and other houses comparable
to yours.
Also, try to find out what types of houses are selling and see if it applies to
your area. Buyers follow trends, and these trends can help you set your price.
Always be realistic. And understand and set your price to reflect the current market
situation.
