8 Drawbacks of Overpricing Your Home

The Charleston, South Carolina area is a great place to live or have a vacation home.  The weather is great, the beaches are fantastic, golf courses are abundant, there are many historical sites, the architecture is unbelievable, the dining is unbeatable, and the people are the friendliest in the country.  It is because of these reasons that I believe Charleston SC Real Estate is truly unique.  I look forward to helping you with any of your real estate needs in Charleston, Berkeley, or Dorchester counties. Today’s article is titled:

8 Drawbacks of Overpricing Your Home

Here are the consequences of overpricing you home:

1.  REDUCES ACTIVITY: Agents won’t show the property if they feel it is priced too high.

2.  LOWER ADVERTISING RESPONSE: Buyer excitement will be with other properties that offer better value.

3.  LOSS OF INTERESTED BUYERS: The property will seem inferior in amenities to other properties in the same price range that are correctly priced.

4.  ATTRACTS THE WRONG PROSPECTS: Serious buyers will feel that they should be getting more for their money.

5.  HELPS THE COMPETITION: The high price makes the others look like a good deal.

6.  ELIMINATES OFFERS: Since a fair priced offer will be lower than asking price and may insult the seller, many buyers will just move on to another property.

7.  CAUSES APPRAISAL PROBLEMS: Appraisers must base their value on what comparable properties have sold for.

8.  LOWER NET PROCEEDS: Most of the time an overpriced property will eventually end up selling for less than if it had been properly priced to begin with, not to mention the extra carrying costs.

As always, your thoughts, questions, or comments are greatly appreciated. Let me know if I can help with any of your Charleston SC real estate needs or questions.

To look for homes anywhere in the tri-county area go to my website at http://www.carolinajoe.com/mls/ 

View my entire inventory of VisualTours at http://www.visualtour.com/inventory.asp?U=182210 

Sincerely,

"Carolina Joe" Idleman
http://www.carolinajoe.com
 

 

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