The Price Is Wrong: Why Overpricing Your Home Can Cost You Thousands
By Philip A. Raices, 1 of the Most Knowledgeable Brokers on the Net!
(Turn Key Real Estate)
“The first offer is often the best offer—but only if buyers show up.”Every homeowner believes their home is special. After all, it’s where birthdays were celebrated, children were raised, holidays were shared, and countless improvements were made over the years. Emotional attachment is natural. Unfortunately, the real estate market doesn’t price homes based on memories—it prices them based on value.One of the most common and costly mistakes I continue to see across Long Island is homeowners insisting on pricing their homes well above current market value. While every seller hopes to maximize their return, an unrealistic asking price often has the opposite effect. Instead of generating excitement and multiple offers, the property sits on the market, becomes stale, and ultimately sells fo...
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