The Sweet Spot

CoreLogicMar2014

Real Estate markets, like tennis racquets, have sweet spots.  When you look at a list of all the listings in your area, you’ll notice that there are bunches in each price range.  One group might be those houses priced between $374,000 -$376,000 range while another is comprised of properties in the $390,000 and up range. What you want to do is position your property in an empty spot between those numbers whenever possible.  This is called price-banding.

Since the majority of buyers will come to you through the internet first these days, also consider what price range they will be searching for.  You might be thinking that the perfect asking price for your home is $305,000, but you’ll be knocking yourself out of the search results for anyone searching in the $250,000-$300,000 range.  Far better then, to price yourself within the “century number” so that buyers will find your property included in their search results.  A smarter price, in this instance, would be $299,995.

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