Danville-seller,
I have to agree that your question has been addressed by the best of the best Danville, CA real estate pros. I would like to add that a listing price is like a fishing net; the bigger the net, the bigger the catch you will get. And that is the goal of effective listing pricing. Your goal is to make your property available to as many qualified buyers as possible, with qualfied meaning 'having means and loan approval to close the deal'. It is also important to note that you will want to obtain a Comparative Market Analysis to detail active listings, pending listings, and closed sales.
(1) Active Listings - Will show the breadth of your net. If your price is in the upper tier of homes listed, you can be pretty sure that the catch will be small. If your home is the lowest priced, that could signal that it is undervalued; creating the Perception of Value is very important. If the perception of value is not there, you risk an extended marketing time and possibly a 'stale' listing.
(2) Pending Listings - Will show the range of 'strike prices' that buyers are likely to enter into contract at.
(2) Sold Listings - Will show you the final closed prices that should be adjusted for compensating factors like: supply, amenities, living square feet, proximity to nuisances (freeways, etc.), and sale concessions.
For a FREE Comparative Market Analysis of your homes value, please visit my web site and click on the link Find Your Home's Value.
Arturo C. Shivers, Realtor
CA DRE Lic. #01779941
Keller Williams Realty
760 Camino Ramon, Suite 200
Danville, CA 94526
Office: (925) 855-8333 Ext. 272 - Tue Dec 1 2009, 18:07