Did you know that overpricing your home could cost you thousands of dollars? Even in a seller’s market, an overpriced home may not sell.

                    

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We regularly study the current real estate market and work to ensure your home is priced correctly to give you peace of mind. We provide a full market analysis to you when we meet to discuss selling your home. A properly priced home in the current local Clarksville market will usually sell quickly… with aggressive marketing and proper presentation. However, overpricing your home by just a few thousand dollars could affect the sale of your home.

Visibility: You’re going to get the most views on your home when it is a brand new listing in the MLS. Most agents have their buyers on notifications which will automatically send home buyers new listings instantly when they hit the market. Search criteria is usually set up by price when looking online for a home. If you’re priced just over their pricing criteria, your home won’t even show up as an option. People tend to set search parameters in roughly $25,000 intervals, so, if your home is worth $320,000 but you decide to stretch and list for $330,000 you will lose out on everyone searching within the $300,000 to $325,000 range.

Leverage: When your home is priced correctly for the local market, you lessen the risk of buyers making “lowball offers” on an overpriced listing, or assuming your underpriced home requires a large amount of repairs (even if it is in great shape). Not properly pricing your home can accumulate the number of days it sits on the market. The higher the number of days on the market, the more buyers may begin to assume there is something wrong with your home and skip making an offer altogether. What happens after your home sits on the market for weeks or months? You may decide to drop the asking price of your home, while continuing to pay your mortgage and utilities; netting you less money from the sale of your home in the long run.

Appraisals: In our local market, we are still working with a lot of appraisal contingencies. And though appraisal gaps have become a regular part of many contracts in recent months, it is not a guarantee. If the home doesn’t appraise for the buyer’s loan amount (combined with the buyer making up the difference IF there is an appraisal gap, you may be asked by the buyer to renegotiate the purchase price.

It pays to have an experienced professional on your side when selling your home. If you have questions about the process or about our local market, let's talk!

Travis Recer

(931) 278-1144

Recer Home Group

Keller Williams Realty

#recerhomegroup #ClarksvilleTNRealEstate

*each Keller Williams office is independently owned and operated.