Overpriced Boston North End Condos For Sale Create Headaches Boston Condos For Sale Ford Realty

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more condo buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign.

But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run.

The Downside of Overpricing Your North End Condos

The asking price for your house sends a message to potential condominium buyers. From the moment they see your listing, the price and the photos are what’s going to make the biggest first impression. And, if it’s priced too high, you may turn people away. As an article from U.S. News Real Estate says:

“Even in a hot market where there are more buyers than houses available for sale, buyers aren’t going to pay attention to a home with an inflated asking price.”

That’s because no homebuyer wants to pay more than they have to, especially not today. Many are already feeling the pinch on their budget due to ongoing home price appreciation and today’s mortgage rates. And if they think your house is overpriced, they may write it off without even stepping foot in the front door, or simply won’t make an offer if they think it’s priced too high.

If that happens, it’s going to take longer to sell. And ideally you don’t want to have to think about doing a price drop to try to re-ignite interest in your house. Why? Some buyers will see the price cut as a red flag and wonder why the price was reduced, or they’ll think something is wrong with the house the longer it sits. As an article from Forbes explains:

“It’s not only the price of an overpriced home that turns buyers off. There’s also another negative component that kicks in. . . . if your listing just sits there and accumulates days on the market, it will not be a good look. . . . buyers won’t necessarily ask anyone what’s wrong with the home. They’ll just assume that something is indeed wrong, and will skip over the property and view more recent listings.”

Your Agent’s Role in Setting the Right Price

Instead, pricing it at or just below current market value from the start is a much better strategy. So how do you find that ideal asking price? You lean on the pros. Only an agent has the expertise needed to research and figure out the current market value for your home.

They’ll factor in the condition of your house, any upgrades you’ve made, and what other houses like yours are selling for in your area. And they’ll use all of that information to find that target number. The right price will bring in more buyers and make it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly.

Boston North End Condos Bottom Line

Even though you want to bring in top dollar when you sell, setting the asking price too high may deter buyers and slow down the sales process.

Let’s connect to find the right price for your house, so we can maximize your profit and still draw in eager buyers willing to make competitive offers.

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Overpriced Boston North End condos for sale create headaches

Don’t list over priced North End condos for sale, create headaches for you.

Waiting for the price of a Boston condo for sale to go down is a great way to miss out on a lower price. Boston condo buyers save listings that they find on various websites and track them waiting for the price to go down. While they are doing that a savvy home buyer finds the listing, falls in love, and offers less than the asking price. Guess which home buyer gets the Boston North End condo?

The savvy buyer of course.

The smart home seller makes sure their home is correctly priced when it goes on the market. The not-so-savvy home seller “tries” the house at a higher price. Buyers see that the home is for sale but instead of making an offer, they wait for the price to go down.

A higher sale price on a house does not make the house worth more, nor does it attract buyers.

Proper pricing is very important. If the goal is to sell the house rather than have a bunch of interested buyers watch for a price cut it is important to start at the right price.

We are still experiencing a shortage of houses for sale in the metro area and prices are still slowly rising. My advice it to work with an experienced Realtor if you are buying or selling real estate this spring.

Read all Ford Realty Reviews. Click Here: Google Reviews for Ford Realty

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Overpriced Boston North End condos for sale create headaches

North End condo home buyers are wise; technology is transforming downtown Boston real estate market to their benefit. Some Boston condo sellers however, aren’t getting this message or don’t care to believe it. These are the sellers of north end condos that remain unsold despite historic inventory shortages. While there might be a variety of reasons, even a few valid, the market tends to have the last word. Buyers and agents are the first to send the message by letting the home sit. Should a buyer bite, a second harsh message is often sent by appraisers and underwriters when value or marketability issues arise.

With the advantages of the internet homes that languish on the market too long look to downtown Boston real estate brokers, appraiser and buyers as there is something wrong with the property. Zillow and other websites have pulled back the curtain for buyers; they see the long or repeated listing histories, death spiral price reductions, past sales and even how long a home sits vacant. Most important, they see the Zestimate – trust them or not, they’re getting better and buyers rely on them.

Pushing the price envelope with a foot in supportable data is one thing, being completely unreasonable on price because “it’s worth it” or “we can sell for less” is another. Work with a competent agent (google them) and avoid the headaches that come with overpriced homes.