Why Should You Lower The Price of Your Home?

Why Should You Lower The Price of Your Home...

 

I know...it is definately the LAST piece of advice any Seller wants to receive but unfortunately that is the scenerio most are facing....adjusting your asking price.  This does not mean that your home is overpriced or not showing well.  It simply means that we have an "overstock" of homes available at this time and not enough buyers.  When demand is down and inventory is up it only makes sense to lower the prices.  Here are a few good reasons you should consider this option...

 

1.  Lowering your price will make your  home more attractive to potential buyers.  If your house is lower than others in the neighborhood and in good condition there is no question.  Which house would you choose?

 

2.  Lowering your price will make your home pull up in searches for more buyers.  In other words if your home is priced at $155,000 and you lower it to $149,900 then you will attract those buyers searching the internet up to the $150,000 price range.

 

3.  More than likely you are paying a mortgage, taxes and utilities for your current home.  If your monthly expenses for the house are $2500.00 and you have the choice to keep your home on the market for 5 months or lower the price by $10,000 and sell it much quicker the answer is simple.  Lower the asking price by $10,000 and move on to your new adventure.

 

4.  Lowering your asking price will bring more potential buyers to your home thus creating a demand for your home and getting it SOLD!

 

5.  If you are making a move in the same area in which you live what does it really matter?  It doesn't.  If you lower your price by $10,000 and you are purchasing a home in the same area, chances are the seller of your new home is lowering theirs also.  One offsets the other!

 

There are many good arguments to adjusting your asking price but the number one agrument is....lowering your asking price will get your home SOLD!

 

Jennifer Daywalt, Realtor

RE/MAX Results Realty

Licensed in PA since 2001

Top Realtor 2004, 2005, 2006, 2007, 2008, 2009

Author of "Ask the Realtor" in the Phoenix

Phoenixville's Home Town Realtor

610-489-7355 Main Office

610-999-7693 Direct Line

610-482-9623 Direct Fax