Overland Park Real Estate...How to Determine Price
Overland Park Real Estate...HOW TO DETERMINE PRICE
The asking price of your Overland Park real estate is not something to decide willy-nilly. Price it too high and you may not get any offers. Price it too low and you fail to maximize the return on your investment. Here is a good way to go about determining the price for your Overland Park home.
KNOW THE MARKET
Buyers who will consider your Overland Park real estate are out there inspecting and comparing a variety of homes that are for sale at the same time your home is on the market. If your home is priced significantly higher than comparable Overland Park homes, you may not get very many buyers to even look at your home. Ultimately, it is buyers who determine what your home is worth. Buyers who are represented by an agent are privy to knowledge of what homes are actually selling for. You should be armed with this knowledge as well and you should use this knowledge to guide your pricing decision. .
GIVE YOURSELF NETOTIATING ROOM
Most buyers plan to negotiate or to put in an offer somewhat less than the asking price. Most sellers know this and so they price their home so they can accept something less than their asking price. Most Overland Park real estate sells within 5% of the asking price. If the market is sluggish, an owner may have to take a larger reduction but if the market is booming quite the opposite is true. Sometimes homes are sold for more than the asking price.
HOW TO PRICE IMPROVEMENTS
If your home is the only one with a swimming pool, how much should you adjust your price? What if you recently remodeled your kitchen or added an extra bedroom? All of these items plus the condition of your Overland Park real estate in general, your landscaping and your location will affect the price of your home.