Suffice it to say—it’s a tight market. And in a tight market, the conventional wisdom is to price your house a little lower than its actual value, in the hopes of sparking a bidding war that will result in an above-market sale price. Homes that sold last year for $200,000 easily sell for $205,000 or more this year, he says. So while comparable sales and research might suggest lower pricing, based on last year’s data, he might suggest a slightly higher price based on the current market Not so fast! Homes priced higher might end up selling even higher, according to a study published, read more.
Tuesday, March 10, 2015
Study Makes a Surprising Recommendation
A Study Makes a Surprising Recommendation: Home prices are up. Mortgage rates are low. Housing supply is stretched thin. Suffice it to say—it’s a tight market. And in a tight market, the conventional wisdom is to price your house a little lower than its actual value, in the hopes of sparking a bidding war that will result in an above-market sale price. Homes that sold last year for $200,000 easily sell for $205,000 or more this year, he says. So while comparable sales and research might suggest lower pricing, based on last year’s data, he might suggest a slightly higher price based on the current market Not so fast! Homes priced higher might end up selling even higher, according to a study published, read more.
Suffice it to say—it’s a tight market. And in a tight market, the conventional wisdom is to price your house a little lower than its actual value, in the hopes of sparking a bidding war that will result in an above-market sale price. Homes that sold last year for $200,000 easily sell for $205,000 or more this year, he says. So while comparable sales and research might suggest lower pricing, based on last year’s data, he might suggest a slightly higher price based on the current market Not so fast! Homes priced higher might end up selling even higher, according to a study published, read more.
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