Is The Price Right?

We've all heard about the importance of staging your home and aggressively marketing it to get it in front of as many people looking to buy a home in Colorado Springs as possible. We all know that keeping our home clean and boosting our curb appeal is essential if we want to get a good price on our property. But what about pricing your home in the first place?

The Importance Of Pricing Your Home Right From The Start


 Some sellers want to aim high on their initial asking price, just to see if they can find a buyer who will agree to the inflated cost. However, more and more sellers are discovering that this strategy has several inherent flaws. Here are a few reasons why pricing your home high in the beginning may hurt you in the long run.
  • You may scare off potential buyers who think your home is out of their price range.
  • When you subsequently lower your asking price, buyers may assume that you are desperate to sell (and offer you an even lower price).
  • Since most buyers search for homes online by price parameters, some prospective buyers may not even see your listing.
Keep in mind that the first month or so that a home is on the market is typically when it gets the most traffic and the most visibility. If you price your home too high initially, you risk squandering your days with the highest market potential.

4 Tips To Help You Price Your Home Accurately


Now that you understand why it's so important to price your home right from the very beginning, The MacGuire Team is here to help you make it happen! Here are a few suggestions to help you price your home right from the start.

1. Look At Comparable Properties
The first thing you should do is scour your local real estate market for homes that seem similar to yours. These comparable properties (often simply called "comps") can give you a general price range for your home. Pricing your home right in the middle of this range may give you the best results.

2. Price Your Home A Little Lower Than Your Neighbor's
Of course you want to get a good price for your home, but ultimately, your goal should be to sell your Colorado Springs home as quickly as possible. If buyers find a home they like that is outside of their price range, they will typically look at nearby houses to see if they like them just as much. By pricing your home a little lower than surrounding houses, you may be able to attract these types of buyers.

3. Be Realistic About Your Home's Value
The best way to get a realistic idea of your home's true value is to have it professionally appraised (which typically costs between $300-$400). If you don't want to pay for an appraisal, take a critical look at your home's condition. What upgrades have you performed? How does the lawn look? If your home is in great condition, you may be able to price it a little higher.

4. Seek The Advice Of A Professional Real Estate Agent
When it comes to pricing your home, your Colorado Springs real estate agent will be one of your most valuable tools. Your agent will be intimately familiar with real estate in Colorado Springs and will be able to give you an accurate idea of how much you could get for your home. 

When You Think Real Estate, Think The MacGuire Team!


If you are a looking for a REALTOR® in Colorado Springs who will be there to help you sell your home along every step of the way, look no further than me and my team. I would be honored to help you in any way I can. Give me a call to get started!
Mike MacGuire
Colorado Springs Real Estate Agent


The MacGuire Team
6760 Corporate Dr
Ste 300
Colorado Springs, CO 80919


719-536-4324 or 719-660-6793

Mike@BuyWithMike.com
Location: Colorado Springs, CO 80919, USA

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