Temecula Real Estate...Over Pricing will Eliminate Buyers

The popular concept of overpricing your home to compensate for low offers can hurt you and the sale of your home way more than it can help. First of all, many qualified buyers and their agents don't like to low ball a house. The only people that try this are the investors or the people fishing for a great deal and often these buyers aren't serious about buying unless they get a home for a minimum of $100,000 less than the VALUE, not the PRICE. There is a big difference between the two these days.


Serious buyers are looking for a nice home at a good price and most often if the house is over priced, it's telling the serious buyer t

1. The seller is out of touch with the market
2. The agent doesn't have a clue about the market
3. The agent doesn't care and is only worried about how many listings they have
4. They may both be hard to deal with.

So the serious buyer often avoids even looking at the over priced home. And the seller just lost a golden opportunity

So, what is an over priced home? Pricing your home has less to do with whats on the market and more to do with whats sold. Unfortunately, sellers look at what they're neighbors have priced their home at and except that price as legitimate when in fact that home could easily be over priced as well so now you have two homes on the same street that can easily sit for months and in this market the longer your home sits on the market the more money you've lost.

It's too bad more agents out there don't have a back bone and tell their sellers the truth about the market instead of letting them sit on the market, over priced month after month loosing money month after month.


For sellers, if you don't have to sell right now take your home off the market. In fact think about buying a few investment properties cause there are plenty of sellers who have priced their homes accordingly and are willing to sell. Or look at foreclosures, they're always priced very well. These homes can be a rental and with the amount of foreclosures and short sales the rental market is really seeing an up swing.


Try buying a new home and renting the old, especially if you've had your home for a while and the payment is reasonable. This allows you to get a great new home at an awesome price while saving the old home and potentially selling when the market recovers. There's a huge potential for profit is this scenario.


Don't make the mistake of over pricing your home. These days a mistake like that can cost you tens of thousands.