Posted 8.22.12 @ 12:55
Overpricing your Oakville real estate can be the costliest decision you ever make; sure there’s always the chance that someone will overpay for your property, but there’s more of a chance that people will turn the other way and find someone more reasonable to deal with. The Oakville housing boom is still going strong, and if you want to cash in on it you’re going to have to price your home properly. If you want to be able to get a great price for your home and avoid the consequences of overreaching, price it right!
If you’re selling your house for $20,000 above everyone else in a neighbourhood where the homes are all practically identical, people are going to wonder why. Some may even look at your home to see what the “best on the block” has to offer. But when they find out it’s virtually the same as the one next door that’s going for a lot less, they’re going to buy the house next door. Pricing your Oakville real estate too high is like being your neighbour’s wingman; you’re making them look good for having such a reasonable price and making the customers disinterested in what you have to offer.
Having to Sell for Less
You may actually have to end up selling your own Oakville real estate at a discount. If your home stays on the market too long while all the other homes around it have sold, realtors will wonder what’s wrong with it. People will see it on sites like Realtor.ca and think, “It’s been on the lists for 6 months and hasn’t sold… I wonder why?” This is the last thing you want to do when you are selling a home. This puts the buyer in a bargain mindset and you in a desperate position of accepting offers much lower than the home is worth.
How Are They Going to Buy it?
Even if you find someone who is willing to pay more for your Oakville real estate, you’re going to have to consider the fact that their bank may not finance the extra value of the home. Banks will send an appraiser out to find out the home’s true value, and they’ll also look at the homes around it in the same area. This is where it helps to keep up with the Joneses instead of surpassing them. If you want to be able to sell and sell quickly, you’re going to need to price your home reasonably.
Selling Oakville luxury homes can be tricky, but we can help. We understand how pricing works and can help you find the appropriate number for your home. While huge profits from home sales are rare, prices are climbing all the time in Oakville real estate. All you have to do is make sure that you’re appealing to buyer’s tastes and their wallets at the same time.