Community Chat

[gidgetgh]

When I sold our house in the height of the housing frenzy here in Atlanta, in February, 2022, my agent priced it at a "no way am I going to get that for our house. I would faint" price. I thought there was just no way. 

Our house sold in 3 days for $72,000 over the asking price. I can't believe it still.

[Desertdi]

You wanna hear something hysterical.....some person left a note on my front gate.....offering me $100,000......for my house in Phoenix.....     (That wouldn't get you a garage with a dirt floor around here.)

[CelticCrafter]

I wouldn't go higher than what the agent is suggesting.

Most of them know what they are doing, some do not.

What are the comps in the area?

You also need to think about the interest rate for mortgages.

We had a neighbor list the house for $100,000 over the Zillow estimate, dropped it $10,000 within a month, then dropped it a laughable $2,000 at the 3 1/2 month mark.

He took it off the market at the 4 month mark.  

Apparently no one wanted a $539,900 mortgage with an 8% interest rate and then have to do 10's of thousands of dollars worth of updating.

[SaveTheTurtles]

I think it also depends on the condition of the house and whether or not updates need to be made. How old is the roof, furnace, a/c etc. But, as others have said you can always drop the price but you can't go up.

[Love to Run]

I would trust my realtor's judgement. The market will determine the actual selling price no matter how high you list it. You only run the risk of eliminating potential buyers who are searching based on the range they have in mind.  Buyers know they they will pay more than the list price in a seller's market.

[LavernLuvsShoes]

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@gidgetgh wrote:

When I sold our house in the height of the housing frenzy here in Atlanta, in February, 2022...

Our house sold in 3 days for $72,000 over the asking price. I can't believe it still.

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WOW - Congrats to you!

[tansy]

Maybe get another realtor to price the house, @goldensrbest, and then decide.

I used a realtor that listed and sold many properties in my neighborhood.  She had a reputation to protect and I trusted her.  Our house went, into a bidding war, with an acceleration clause, and we did well.  It sold within four days.

[Lucky Charm]

Our realtor priced our last house so much higher than we were considering, (during this market boom), we still went higher and got what we were asking.

[KittySoftPaws]

@goldensrbest  There are so many factors that go into selling a home and getting the most you can out of it. First is the market. Right now interest rates are higher. Next, what is the condition of the home? It will need an insepction and you may end up having to foot the bill to "fix" some minor issues before the sale.

Of course location is a biggie, if you are in a hot market area, anything goes. It's so very important to get a good Realtor as well. Sometimes some Realtors will set a home price too low just so they can make a quick sale at your expense.They will also take into account "comps" or homes in a certain radius of your's to get an average price of what you can expect to get.

It's tricky because if you set it too high and it sits too long, then you have to reduce the price and this puts doubt into the buyer's mind that there may be something wrong with it for that reason. Get your comps, take all into consideration and then with the help of a good and reputable Realtor, set the price to sell and to get a good and fair price for you.

[jlkz]

When dealing with your broker about the comparables selected for comparison purposes, make certain you are comparing apples to apples.

When selling our mountain vacation home, DH noticed that  quite a few of the homes had created bedrooms in the basement.  We had to master suites, one on the first floor and one on the second.  The other bedrooms were also on the second floor.  So, all bedrooms were above ground vs. mixed above and basement.  It makes a difference when establishing a selling price !

We prevailed with the pricing we felt was more fair.  The house sold very close to asking in 10 days three years ago.