So you want to sell your house?  There are about a hundred things that are running through your mind but ultimately it comes down to one decision.  What can I set the price at?  Many of the other factors are out of the seller’s control.  For instance, the number of homes on the market, the motivations of the other sellers, and possibly some foreclosures bringing down the prices in surrounding areas play a role.  Like any type of scouting, you’re going to have to scope out the competition.  This is where you’re going to have to get into research mode.  Check out the homes that are on the market in your neighborhood and comparable homes that have recently sold in the past three months.  This will give you an idea of what you may be able to list your home for.  Now if you want top dollar for your home, you better make sure your home is worth it.  I went into a home the other day that was priced at $849,999 in Fairfax, Virginia and the kitchen was tired.  What I mean by this is, it looked like it belonged in a home built in 1990.  None of the appliances were upgraded, the counters were from when the home was built 30 years ago, and the cabinets were nothing spectacular.  People come through a house and don’t want to have to do any work if they’re paying that much for a house.One thing you have to realize is price vs. value.  If buyers are not making any offers, then the price does not reflect the value.  As a seller, you cannot control the value.  You are not the one buying the home so your opinion does not matter.  However, location is a selling point.  If your home backs to woods or is on an acre of land, you’re going to stand out from the others.

The home that is priced at $849,999 has been on the market for 30 days now.  It’s the highest priced home in the neighborhood’s history.   There have been several offers but nothing has sparked their interest to work with any of them.  Soon the sellers will realize that they’re going to have to drop the price if they want to get it sold.  Don’t be a stubborn person when it comes to selling your home.  Your home is either worth the every penny of the list price or it’s priced too high.  If you’re not going to get the price you want, then don’t sell your home.  It’s that simple. 

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