Tucson Are You Selling a House or Playing The Lottery
February 7, 2008
Post Tags: Asking-Price , List-Price , Sale-Price , Tucson-Playing-the-Lottery , Tucson-Price-it-to-sell , Wish-Price
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I came across an interesting term this morning and it got me to thinking about pricing your home to sell. We usually talk in terms of List Price or Sale Price and the List Price to Sales Price Ratio. But far to many sellers start out with the “Wish Price“. Wish price is like playing the lottery, I wish I could win the lottery; I wish someone would pay this for my house.
You don’t want to base the selling of your home on a wish. You want it based on a good solid process when coming to the list price or asking price for your property.
Here is a very good piece of advise that comes from the St. Paul Real Estate blog by Teresa Boardman
“Sellers should consider going to a few open houses before they put their home on the market, and grab some flyers and search the internet and scope out the competition. Sellers can also find out how much homes actually sold for if they were listed on the MLS and sold in the past two years.”
Knowing what else is going on in your neighborhood is a necessary part of the process of deciding on your List Price. The rest of Teresa’s article is very informative as well as this little paragraph quoted above. If you have time I would suggest you read her entire post. Even if you don’t have time, take time. It is worth your time. : )
Jonathan Dalton wrote a post yesterday, February 6, 2008. It is also valuable information to have as a seller. You need to look at your house as a buyer would see it and not just as a seller. To be prepared for the market you need to put on your buyer’s hat. The title is the link to Jonathan’s post.
Myth’s About a Buyers Market
I read this and then read it again. I’ve had some seed thoughts on a post similar to this one but I honestly can find no reason to reinvent the wheel or try creatively to steal his content : ) His topic and post are as relevant to the Tucson Real Estate Market as they are the one in Phoenix.
If you try and sell you home on the Wish Price I Might Win The Lottery approach you have a better chance of winning the Lottery.
Don’t be a Looser Price It To Sell
February 8th, 2008 at 3:11 am
Dave - Great article, way to put it. Too many sellers are playing the lottery when selling their homes. Trouble is, there are so many homes on the market the odds of selling are less because of those sheer numbers. Good advise about checking out the competition. Sam Walton did it…did what they did, but, did it better. Now look at WalMart; lesson to be learned there. Good job Dave.
February 8th, 2008 at 7:10 am
Doug,
Thanks for stopping by. We do still have way to many homes that are way overpriced even in this market. It is like some who decide to sell have been living in a bomb shelter for the last two years.