How to Price Your Home to Sell in a Softening Market?
A new selling season is upon us in New Zealand! Unfortunately, those home sellers who were looking forward to sky-high prices and multiple offers may be disappointed to find the market softening. In a declining market, pricing a home becomes critical to success. Pricing your home in a softening market The first step is to realize the market has changed. Buyers will not overpay for a home in an uncertain market. Whereas just a few months ago it might have made sense to “test the market” and set an aggressive price, sellers who try that strategy today will lose valuable time, risking an even slower market when the home sells. Home Value Truths What you paid for your home doesn’t affect its value Your asking price does not affect its value What it might have sold for 2 months ago does not affect its value What your agent tells you about price does not affect its value The value of your home is determined by what a qualified buyer in ...