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.