Current Topic:
Overpriced!

In the real estate world, a large number of people are looking to buy homes at any given time. These are the seller's best prospects. This ready group of buyers is wasted, however, if your house is overpriced. If they have been shopping around and are accustomed to comparing properties, they will probably refuse to look at your home. You and your Realtor may know that you would sell for $10,000 less, but the buyers do not know this. As a result, your overpriced property receives little attention.

Don't be fooled into thinking that your house is worth more than someone is willing to pay for it, or that it's just a matter of waiting for the "right" buyer to show up. Surveys show that the longer a house is on the market before being sold, the greater the drop in price from the listing price, when it finally does sell. The buying public eventually sets an accurate price. An overpriced house just sits on the market, waiting for a price adjustment before it will attract a buyer.