PRICING YOUR HOME TO SELL

For the next few issues, I will be addressing the problem of getting your home sold in today’s market. One of the first things to address is pricing your home properly.

In our area of East Tennessee, we didn’t experience the extreme inflation of home prices as did a lot of our country. Nonetheless, we did have a moderate rate of inflation. In the current down-turn of the market, we are still affected, about to the same extent as our previous inflation rates.

According to the latest Zillow Real Estate Market Report, home values in Morristown decreased 3.30% in the second quarter of 2008, compared to the second quarter of 2007. Nationally, home values decreased 9.9% during this same period.

Pricing is one of the most important details to consider when selling your home. If it is priced too high, the buyers and their agents won’t even consider your property. We all understand that you may have paid from three to ten percent higher for your home 2 years ago, but in order to get it sold in today’s market, you must consider what other like homes are selling for.

Even if a buyer did come along who “just had to have” your home, they most likely would not be able to get a mortgage because the lender would not be able to find comparable properties when they do the appraisal.

For expert assistance and real facts to help you sell your home as quickly and at the best price possible, contact me. My cell number and my e-mail address is available on this web site.