One of the main methods for establishing the value of anything is to go through a process that looks like this: What are a buyer’s other options? What have similar places sold for? It’s a comparison-based system.
If the next door neighbour sold last week, with a home identical to yours… we could safely say that you would be close to that number, provided they sold without pressure, in a fair situation. And that’s one of the main things I think about when I decide to comment on a price. What’s happened recently with that model? What other sales would justify this?
What we do know is that the buyer in 2013 is much more educated, and they are ruthless comparison shoppers. So, anyways… the point is that if you can’t justify your pricing to a buyer, don’t be surprised if you sit around without an offer. In fact, it should be OVERT that you are competitive. If you have to convince too hard, then something isn’t working. Alrighty! I’ll also share the massive differences in a particular price range for a relatively small increase in budget, and our friend Brick will stop by to show his love for inanimate objects. 14 homes today!