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Overpriced homes sell lower Published January 16, 2010 Everyone wants the most money for their house. It has been their home, their castle and, hopefully, their pride and joy.Set the emotions aside. The first act you need to accept is that you will price your property according to the current market conditions in your community. Fill out your Seller's Disclosure Statement before you talk about price. How old is that roof? Wood rot on the back porch? Old central air units? The property condition needs to be considered in the pricing process. I had one Seller state on her disclosure the knob and tube wiring was "charming." At least she was honest. Your property really is worth something. A Galveston Realtor can tell you how to avoid the pitfalls of overpricing. Overpriced houses usually sell for less than houses that were realistically priced. Besides helping sell other houses, overpriced houses sit on the market longer. If an Overpriced house does sell, the mortgage appraisal will probably show the house is not worth the agreed price. The price will have to be renegotiated if the parties are willing. Pricing a house deserves an honest discussion. Next week, we talk about the most important room in the house. Organized by the Galveston Historical Foundation, the following are Green classes: Jan. 21st: A Guide to Rainwater Harvesting Designs Jan. 28th: Using Green Materials in Historic Homes 11:30AM to 1PM @ GHF Headquarters, The Custom House, 502 20th, Galveston. - Written By David Bowers |
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