This Month in Real Estate March 2012 has been released!
Home sales activity remained steady at a pace of 4.6 million to be sold by the end of the year. The median home price dropped $10,000 from last month to $155,000. The average interest rate dropped slightly to 3.87% down from 3.88% as per This Month in Real Estate February 2012.
The top story, as presented by Jay Papasan, is that almost half of home sellers who priced their homes for sale according to the range given to them by their professional real estate agent sold quicker and for more money than those who did not.
In News You Can Use, Byron Ellington discusses pricing high to “test the waters” of the market.
The problem with that theory is that yes, the seller will sell a house — it just most likely won’t be theirs. If there are lower priced comparable houses in the neighborhood, a buyer will most likely look at your house and see what a deal the house down the street is.
The first few weeks on the market are the most important, and where sellers generally get the best offers, if they are priced correctly. If they are priced too high, they won’t get offers, and their home will become stale on the market.
With the thought that buyers can always make an offer, that it very true. But if it is priced well, they are more likely to make the offer on THAT house.
For more information on your Towson house value, please contact me. I would be happy to help!