Knowing the market price for homes in your area is the key to selling your home.
photo credit: TheTruthAbout

"In today's challenging home-sale market, it does you no good to have your home on the market if it isn't for sale at market price," states Dian Hymer for Inman News.  Listing your home above the rest of the market helps everyone else but you. 

"If your home is on the market for a price that's unrealistic and you have no flexibility, you should withdraw it from the market. Better yet, research the market before listing your home for sale to see if the price you want is obtainable." suggests Hymer.

Distressed sales are a different situation.  If you owe more on your home than you can sell it in today's market, you may have to list it at or above the market price to show the lender that it won't sell for enough to cover the mortgage payoff and other closings costs.

The length of time on the market depends on your area. Hymer states, "Some listings in some areas sell relatively quickly and others take much longer to sell. These are usually listings that are either overpriced or don't have a broad-based appeal. If you're looking for a more specialized buyer, it's hard to predict how long it will take to sell. The right buyers could come along soon after you list, or it could take several months or longer."

Read more at Inman News.

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Posted in Headlines, Denver Colorado Real Estate, Blogging, MLS, Real Estate Market Conditions, Real Estate Industry Trends

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