Denver is coming off of as wild a run in real estate as we’ve had for years. Each year steps a little higher and faster than the year prior. This year is no different. In 2017, January and February were smokin’ hot, while in March the market slowed significantly. Turns out that it was just the moment for the market to catch its breath and pull back up to a screamin’ pace again for April, May and the first part of June. Then, we hit our typical summer slowing just prior to July 4th. It remains to be seen what will happen for the rest of the summer.
All of this strong performance has elevated Seller’s expectations of how much their homes are worth. But in a summer market, pricing a home at spring pricing can cost you. There are advantages to setting the pricing of your property at a lower, more competitive price
Three key reasons…
- A) A lower price exposes your home to more buyers. A great price attracts the best buyers and instills a temperament of buy it now without a bunch of negotiation.
- B) Buyers agents who see and show your home will show it to more buyers if they see it priced to sell.
- C) Quicker closing will save on carrying and closing costs. There is also great value to moving on with your life.
Don’t be swayed by the idea that overpricing your home will give you bargaining room. I have never had a successful client overprice their home. Leaving bargaining room isn’t valuable in the absence of a greater number of highly motivated buyers who see a competitive asking price.
A home gets the most interest right as it goes on market, the first two weeks is prime time. Take full advantage of this high level of interest by having the home looking its best, and priced at its best! I can help out on both counts – call me to discuss or to review your property!
By: Marie Callaway, Realtor & CEO of Callaway Group Real Estate