Pricing is Important

So you may have already made the decision to sell your house. The problem is, you do not have an idea of how much it is worth and at what price the property should go for. Pricing your home correctly is a very important thing to consider from the very start because the correct deal will help you sell the property immediately. The very reason why many houses stay in the market for a longer period is because it has not been properly priced. The dilemma is if you overprice this, you will eliminate a lot of potential buyers. But if you set the price too low, you will be on the losing end and will not get top dollar for what you are selling.

A lot of factors have to be considered in setting the right price for your property:

* Location - Some houses are a lot more expensively priced precisely because of the location. A good neighborhood is naturally a lot more valuable, location wise. It could be one of the more important things to consider in setting the price for your home

* Condition of the House - Buyers are, of course, on the alert for nice looking houses that will meet their preference. It is, after all, going to be their home and their choices should be based on their personal style, as it did yours. If you have means to have your house appraised by a professional, then this will probably make your decision easier. A professional appraiser will help you determine how much your house's going rate is in the market today.

* Competition - Since buyers are also looking at other properties, you will have to try to win them by giving competitive choices so that you can make the sale immediately.

* Market - Real estate is unpredictable and this could also affect the value of your property you are trying to sell. You have to consider pricing this in such a way that you also don't feel short-changed by what could be a sudden shift in the economy.

Do take note that it is you, and not the REALTOR®, who will have the final say on how much the asking price is. But you could also seek their opinion since they know the market and the competition and can very well tell you if you could push your selling price or not. You will probably have to entertain a lot of prospects in the first few weeks after you've put your property up for sale. And if your price is fairly attractive, you just might get offers right away.

About the author:
Karen Rhodes is a lifelong resident of the Chattanooga area and is a successful REALTOR®. Visit Chattanooga Real Estate for more information on the Tennessee Valley and surrounding areas.