It doesn’t matter how much you paid for your home, or how much money you have in it after improvemennts, or how much you need to net after the sale.  The market determines the price, period!

If the figure that a homeowner is asking is way above market price then there will be little if any showings and no offers.  As the asking price approaches market value, showings will increase as will the probability of an offer.  However, the offers will be less than full price and show a trend.

If your home is priced close to market value you will have even more showings and an offer sooner.  You can even price the property lower than the market and it will still show it’s influence with more than one offer and the sales price will be bid up to where the market is.

It drives me crazy that people seem to forget simple econ 101 when it comes to selling their home – and insist on making irrational decisions when setting an asking price.

What do you think?  Am I full of it or am I just saying what needs to be said to an unrealistic public?