Risk of Overpricing Your Home to Sell

When it comes to pricing your home, particularly in this market, the risk of overpricing your home to sell is significant. The first issue is the comparables in your neighborhood. If they are selling below the price you are asking and offer the same quality and amenities, the chances of your home selling are next to none. Why would a potential buyer pay more for yours when they can get the same thing down the street for the same pricing? They won't. The second thing to consider is the valuation process. It is not based on your subjective views of your home. What you "think" the home is worth is irrelevant. The price must be a factor of what the neighborhood supports and, even then, must be priced in the range according to how your home compares with the others around you.