PRICE, PRICE, PRICE
The old adage of Location, Location, Location still holds true but PRICE is KING!!!!! Price can overcome location, location can not overcome price. Price can overcome condition, condition can not overcome price. Pricing your home to sell is the most important issue with selling a home in a buyer's market. Supply vs Demand says that as inventory grows, prices must fall. Buyers have more choices and the choices that they will make will depend on the price. Buyers will rarely offer full asking price on an "overpriced" home. Properly priced homes will often recieve multiple offers.
To price a home properly, sellers need to see recent sales similar to their home and sellers need to know what the competition looks like. A sellable home needs to be priced in the bottom 1/3 of the competition, preferably the lowest price. To enhance the sellability, the home needs to be in the top 1/3 in condition. BOTTOM 1/3 PRICE, TOP 1/3 CONDITION.
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