Factors Affecting Your Asking Price When Selling Your Home in Grand Rapids
- Location, square footage, and condition of your home and home’s amenities.
- Level of demand for homes in your area.
- Amount of competition in your price category and area.
- Recent sale prices of homes of similar size and in a similar location.
- Availability of financing and interest rate levels.
- How quickly you need to sell your home.
- Whether you need to sell in order to finance the purchase of another home.
Factors that Don’t Affect the Asking Price When Selling Your Grand Rapids Home
- What you originally paid for your home.
- The cost of improvements you have made to your home.
- What it would cost to build your home today.
Dangers of Overpricing - How To Price Real Estate in Grand Rapids
Qualified buyers won’t consider your home, believing it to be financially “out of reach.”
- Your home may remain on the market for a longer period of time, growing “stale,” and increasing the perception that there is something wrong with it.
- The highest and best offers usually occur within the first 30 days of listing your home. An overpriced home misses out on this crucial time period.
- Your home helps similar homes that are priced more competitively to sell faster. It demonstrates that these other homes offer more value.
- Lowering your price, later on, gives the impression that your home is “unwanted”.
If you need guidance, tips and tricks, or have questions about selling your home in Grand Rapids, MI, be sure to contact the real estate experts at The May Group!