Pricing your St. Louis home in a declining market
Consider an appreciating market. You price your home and enter it into the St. Louis MLS (which you can search by clicking here). Because you have entered an appreciating market you will immediately be underpriced if you entered at market value. Even if you entered the market overpriced, the market will begin to catch up to you — because the market is going up.
But what happens when the market is falling? What’s your strategy then? Consider a boulder rolling down a hill… How do you stop it? You’ve got to get in front. If you are priced above the market, you are constantly falling farther and farther behind the competition. And you are becoming more and more over priced.
When a professional Realtor prices your home in a declining market he should look at the market and then advise you to price slightly lower. That way you’re getting ahead of the competition.
To do this, a Realtor needs to not only show you what has sold in the past 6 months, but he must also show you what’s on the market. Houses on the market are like people waiting to pick up donuts at the bakery. Nobody wants to be at the end of the line. Everytime you cut your price, you cut in front of a bunch of people in line. The goal — CHECKOUT!! Waiting in line stinks!
If your Realtor has the expertise to price your home, if he’s an expert, professional St. Louis Realtor with lots of experience, listen to him. Want to know what your St. Louis home is worth?
Category : Home Buyer and Seller Tips &Real Estate Sales in St. Louis &St. Louis Real Estate Sales Statistics
