Several variables factor in to successfully selling your St George home. Perhaps the biggest variable is your listing price. Price it too high and you end up waiting for a Buyer. You’ve probably heard several myths about the best way to price your home to sell. However, when it comes to St George home pricing, let me separate fact from fiction.
St George Home Pricing: Fact vs Fiction
Fiction: “I will always sell my home at a profit.”
Fact: Anyone who weathered the real estate crisis of the mid-2000’s knows that is definitely wrong. While experts predict a 5% increase over last year’s prices by the end of 2017 and another 3.5% increase by the end of next year, there are no guarantees. Of course, this varies from city to city. Talk with your St George REALTOR@ to see how the market fares in your area.
Fiction: “Whatever money I put into renovations, repairs and remodeling I will recoup when I sell.”
Fact: Very rarely do you get 100% of the money you invest in improvements back. Some are better than others (check out Realtor.com’s article about the best ROI for home improvements in 2017 here). You also don’t want to make so many improvements to your St George home that you price yourself out of your market. There is such a thing as adding too much to your home. Keep in mind what other homes in your neighborhood have to offer. You want to be nice but not so nice that you spend way more than you should.
Fiction: “If I price my home higher, I’ll make more money.”
Fact: The temptation to price your St George home higher so that your profit margin is bigger may be hard to resist. But resist you must. The truth is, if you price your home too high, you might find yourself sitting on the market for a while. You’ll only end up reducing the price to bring traffic to your door. More likely than not, in the end, you’ll sell your home for much less than if you had priced it appropriately to begin with.
Fiction: “If I price my home too low, I’m going to lose money.”
Fact: In reality, pricing it slightly below market value tends to bring more buyers to your door. In turn, more interest can drive up the price. While that isn’t guaranteed, it is a gamble some sellers are willing to take. Again, talk to your REALTOR@ to determine if this is a strategy you might want to entertain.
Fiction: “Realtors only want to set a high sales price to pad their own pockets.”
Fact: A good REALTOR@ wants to sell your home almost as much as you do. They know that overpricing tends to inhibit a sale. Therefore, they will never compromise your home’s sale for the mere possibility of making a couple extra dollars.
For more information on this and other St George homes for sale, please visit my Featured Listings page.