- More home sellers want to get aggressive with the pricing of their home. Forty percent of sellers say they plan to price their homes above market value, according to the latest Redfin Real-Time Seller Survey of 1,128 active home sellers across 25 U.S. cities.That can be a risky strategy and backfire, says Paul Reid, a Redfin Riverside area real estate professional. “Buyers this year are far less tolerant of overpricing, and homes that aren’t priced appropriately are likely to sit on the market until the seller is forced to reduce the price,” says Reid about the survey results.“Buyers often interpret a price drop as a sign there is something wrong with the home, leading some to negotiate even more aggressively or lose interest altogether.” - In Riverside, 30.4 percent of homes for sale had seen a price drop as of March, compared to nearly 21 percent last spring. Fifty-one percent of home sellers say they plan to price their home in the middle range based on local comparable sales. About 8 percent say they plan to price their home low.Thirty percent of sellers surveyed say that rising prices over the past year has made them feel more confident about the security of a home investment. Sixty percent said that the rising prices have not changed the way they feel about their home as an investment. While more sellers say it’s a good time to sell, they do have some concerns when finding their next house. Sellers’ top concerns are affordability, competition, and low inventory in finding their next home, according to the survey. - To read the full article, click here: “40% of Home Sellers Plan to Price Above Market Value,”
- If you have a home to sell and are looking to get the most you can for it, contact me at:
Philip Crocker Lead Buyer Consultant mySanDiegoAgent Realty Group Keller Williams Real Estate 760.212.7222 CA BRE# 01131961
About Colleen K. Cotter - mySanDiegoAgent Realty Group
The mySanDiegoAgent Realty Group provides professional real estate consultation in the areas of residential, income properties, luxury rentals, short sales, first time home Buyers, real estate for senior citizens, real estate issues related to divorce, military and corporate relocation. We are experts in downtown San Diego and coastal properties especially Coronado, Encinitas and Point Loma, downtown lofts and condos, urban planning and sports team seasonal placements.
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"We are very pleased with the high quality of service, dedication and professionalism that Philip Crocker provided us during our recent home purchase in North Park. We would highly recommend him to anyone."