Huntley Home Prices – The 3 Most Common Home Pricing Mistakes

Tony Delisi
Published on February 14, 2018

Huntley Home Prices – The 3 Most Common Home Pricing Mistakes


Huntley Home Prices – The 3 Most Common Home Pricing Mistakes

Huntley Home PricesThe market is hot in Huntley but even now selling success is determined with Huntley Home Prices. Have you ever lived in a neighborhood where one of the homes for sale seems to sit for an especially long time with fewer and fewer people viewing it?

It’s a nice enough home, right? Lots of curb appeal and you’ve seen the interior and it’s delightful.

So, why isn’t it selling?

In a word?

Overpriced Getting Huntley Home Prices Right From The Beginning

Even worse, if it was originally overpriced and has experienced a series of price reductions, the home is stigmatized.

What this means is that homebuyers think that there is something wrong with the home and most of them won’t even bother to look at it.

So, if you’re considering selling your home and want to “experiment” with pricing, beware of these 3 common mistakes with  Huntley home prices.

1. Pricing too high out of the gate

It’s common knowledge in the real estate industry that overpriced homes take longer to sell.

Now, don’t take that to mean that eventually you’ll get your price, because if you’re overpriced, you won’t

In fact, plan on making 5 percent less than your listing price if the home sits on the market for two months with no offers.

At today’s national average home price, 5 percent represents more than $14,000. Unless you overpriced the house by that much, that’s a loss that has to hurt.

But, there is even worse news for Huntley Home Prices

According to a March 2012 study performed by MIT’s Center for eBusiness, homes that remained on the market substantially longer than average suffered a $32,000 reduction in the eventual sales price.

If this isn’t enough to show you the importance of pricing the home appropriately when it goes on the market, I don’t know what is.

The first lesson in pricing real estate is, that to realize the most money you can from the sale of your home, price it right.

2. Relying on online home price estimates for Huntley Home Prices

Admit it, you’ve checked your home’s Zestimate at, right?

Unfortunately, many homeowners do just that and don’t understand that there is simply no way anyone can make an accurate estimate of market value without having seen the home.

Furthermore, since sites such as this don’t have access to all of the MLS listings and, most significantly, the sold listings (which is what market value is based on), their algorithm is faulty.

The company admits that their “median error rate” is about 8 percent, according to Kenneth R. Harney in the L.A. Times.

3. Basing your price on your neighbor’s asking price

When you consider putting your house on the market, it’s only natural to want to know what your neighbors are asking for their homes.

Keep in mind, however, that this figure represents what your neighbor hopes to get for his or her home, not its actual market value.

The true market value of a home is based on what buyers actually paid for nearby homes, similar to yours.

I like to think of list price as “fantasyland” and sales price as reality

To that end, I try to dissuade my home-selling clients from basing the price of their home on some pie-in-the-sky figure that may not reflect reality.

Why go through all this when I can send you the most accurate report on Huntley home prices and other factors at no charge?Determining the value of a home includes far more than checking sales prices. I am happy to show you – at no obligation — what I do to determine the current value of homes and to provide you, free of charge, an analysis of your home’s value. Call me any time at 847-471-7177.

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Huntley Home Prices – The 3 Most Common Home Pricing Mistakes
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