Lake Conroe Real Estate - A Day in the Life

It's one of the toughest sells a Realtor has to negotiate.  Not between a buyer and seller but between the listing agent and client.  Most homeowners love their homes.  It's very personal to them.  They have accumulated great memories and/or have it updated just the way they like.  It's surely head and shoulders above the rest of the comparable homes, and should be priced accordingly...right?

The hard facts are that it doesn't matter what was paid for the home.  It doesn't matter how much the owner has put into upgrades.  It doesn't matter that last year the home could have sold for more.  The only thing that matters is what a buyer is willing to pay for the home NOW.

The National Association of Realtors states that a home priced at fair market value attracts 60% of available purchasers.  A home priced just 10% above fair market value attracts only 30%, and a home priced 15% above attracts a mere 10% of available purchasers.

On the flip side, a home priced 10% less than fair market value attracts 75% of available purchasers, and a home priced at 15% less will attract 90%.

If you have a home on the market and you are receiving little to no showing activity, speak to your Realtor.  Go back over the comparables in your area.  It may be that your home is priced above its fair market value.

Kathy King, Realtor
Keller Williams Realty