Strategically Pricing Your Home To Increase Its Value - 2021 Strategies That Work!

With the extreme seller's market that we've been in over the last couple of you know months to a year a lot of people ask me. What is the appropriate price for my house?

And we all know the market's super hot homes are selling above list price so should I just be really really aggressive with the price like you know let's just use an example let's say that your house right now the average sales price in the Phoenix metro area is about 500 000 so that's the price I'm going to use if your house is you know the comps say it's worth about 500 000 should you just go ahead and list it at 525 be aggressive and see what you get or should you list it still at 500 000 or should you maybe even list it below that so that you can create you know an absolute frenzy and a bidding war.

Right now I don't feel like trying to price it below market is needed. The market is so hot, there's so much demand, everyone's going to see your house. We don't need to create extra attention. Our marketing plan is going to create extra attention. Pricing a home below market is just going to it's almost like a bait and switch you know and I'm not a huge fan of misleading some buyers because some buyers who aren't educated and don't know how hot the market is you put it out there for 450 they might think that they're actually going to be able to get it for that price so I'm not a fan of underpricing the listings I'm also not a fan of overpricing the listing. Yeah, you might get a buyer who comes in and says, yeah I know the market's really hot and I know this home is overpriced but I need something so I'm going to give you 5.25 but you really only get that one offer right or maybe you get two offers and you don't have all the power as the seller to really be in the driver's seat in terms of dictating the terms how long do you want to close, do you need post possession, do you want more earnest money, do you want all the contingencies waived.

You know some of that kind of stuff what we've been experiencing is if you price the home appropriately if the comp says it's worth 500 000 then you price it at 500 000 and then you market the heck out of it and again you're going to end up with 10 15 offers hopefully and it's gonna bid up to 525 or sometimes significantly even more than that depending on how nice your house is and you're still going to end up getting more price but now as the seller, you're in the driver's seat because you have 10 offers and sure some of them are a little lower in price but sometimes those a little bit lower in price offers have significantly better terms you know these people can close in two weeks these people are waiving the appraisal contingency these people are completely removing their inspection period so now you get to really choose okay how much money do we want versus how good of terms do we want and you're totally in the driver's seat.

You're going to end up selling the house for the same amount of money either way but at the end of the day the home is going to sell for what buyers feel it is worth so if there's a buyer out there who's going to give you 525 if you list it at 525 you there's probably a buyer out there that will bid it up to 525 if you list it at 500 but now again you have a lot more options, you have a lot more demand and you've got that bidding more that you're looking for which I think is the most ideal situation for a seller to be in so so I think in the hot seller's market that we're in you should just price the home appropriately.

What does this mean to you? If you're even a little bit interested in learning more about participating in the Phoenix housing market as a seller, buyer, or investor... you NEED to know this stuff! Or at least work with someone who is obsessed with the market stats. Reach out to me today so we can start working on making your real estate dreams a reality!