Don't Set a Home Price Too High

Summer is winding down but the real estate market in the Seattle area is just as hot as ever. Sales activity is continuing at a fast pace with record low inventory and higher home prices. Accurately pricing a home takes plenty of experience and understanding of the current market.One of the best pieces of advice, however, is to not price your home too high. AOL Real Estate compiled a list of a few reasons to avoid a higher than normal price on your home.You won't get offers (but your neighbors might).It's great to be a good neighbor, but unintentionally sacrificing your sale to help your neighbors sell their homes might be going a bit far. After seeing your high-priced home, buyers may be eager to get the better-value house nearby -- even if they liked your home better.You lose credibility.Buyers are savvy. They've usually done the research and have a ballpark idea of what homes in your neighborhood are worth. When you price too high, people might decide not to even look at your property.Not everyone likes to play "Let's Make a Deal."A common reason sellers price high is that it leaves room for negotiation. The problem with this tactic? If buyers overlook your house because it's out of their budget, there will be no one to negotiate with.You squander the early days.Sellers are in the driver's seat the first 30 days a house is on the market. The listing is still new, so you have buyers' attention. The ideal scenario is that you price to sell in the first two weeks, that way, you stand to get multiple offers. If you price too high, you lose some of the time during which you’ll have the most leverage with a potential buyer. Read the full article from AOL Real Estate