Why Overpricing Your Home Can Backfire in Today's OC Market
By Debbie Sagorin, Marketing Irvine to the Highest Level
(Coldwell Banker Realty)
The OC inventory keeps going up, and now more sellers are either cutting their prices or taking their overpriced homes off the market.Compared with last year, 21% more homes have come off the market this year, and of the homes still for sale, 34% have lowered their asking price at least once.To succeed as a seller, it’s crucial to set the right price from the start. Many sellers may overestimate the value of their homes, thinking their property is superior to others in the neighborhood or basing their price on an upgraded home when theirs may not have the same level of updates.While it’s important to highlight the best features, overpricing can work against you. At the end of the day, a home is only worth what a buyer is willing to pay for it.Sometimes, both sellers and agents price hom...
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