It’s the price, dummy!

Decent article on msn.com yesterday

There is more to the story, but this is all you need to know –

“Optimistic home sellers love to parrot the old adage, “There’s a buyer for every home.” But
they often leave off the qualifier:

“at the buyer’s price.” (emphasis mine)

The fact is that buyers, not sellers, ultimately determine the market value of a home. You can ask for the moon and set your listing price well above comparable properties in your neighborhood, but at some point it will be up to you, the seller, to accept what the buyer thinks your home is worth.

Overpricing is the most common reason homes don’t sell. When you ask an unrealistic price, it sets in motion a process that often works against you.

Price is the ultimate qualifier. If a property is in poor condition, this can be compensated for by price. If it is in a poor location, price can be the factor that helps the home sell. All the marketing in the world will not get a buyer to purchase an overpriced home.

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