Leanne,

It is our opinion that the sellers number one concern should be accurate pricing for their home. Today more than ever sellers need to be very much aware because of the "double headed monster" competition.....Short sales and foreclosures.

A very large portion of today's buyers are exploring these options making them your main competition. It may not be practical to match their prices but sellers need to be are of their competition. And this definitely includes these real estate demons.

Good luck

Leanne-
Yes be careful how you list as it should be reflective of what is fair market value in your area. Where are you getting your idea on fair market value? From a realtor? Zillow ? Assessment? Friends?

The best idea is to get a couple of realtors in your area to come in and give you a CMA (comparative market analysis), which will give you an idea of what these realtors think your home is worth in todays marketplace in your area. Find your fit with a realtor you trust to put in on the market with a pricing plan( a pricing plan is what your realtor thinks the price should be to get it to move within a certain time frame ...ie: price x should sell it in 30 days...price y in 45 days....etc....

Find out about a marketing plan (how is your house marketed to potential buyers), It is an internet world for most initial buyers- what will the internet presence be? What other houses in your area are currently for sale, and how does your house stack up against it? Place your home competitively in your marketplace, and buyers will come and it they determine it is at Fair market, you will see showings and interest.

A good realtor will listen to your needs then price and market it effectively for you.

Good Luck

Good luck in selling your home.

I'd be careful in ANY market about the price I listed my home at, and in a falling market, listing a little HIGHER is the worst thing you can do.

Hi Leanne - that's a good question and it all depends on what is going on in your marketplace. In the Fitchburg, MA area, colonial homes that are built in 2005 and newer, have 3-4 bdrms and 2000sf or more have sold in the past 6 months for anywhere between $275,000 and $315,000. The days on market range from 62 days (at the $273,000 sold price) to 159 days (the home with the $315,000 sold price), so this is something you need to think about as well. Typically the homes in the higher price range take longer to sell in this economy, so pricing your house for a quicker sale (since you are relocating) is probably your best bet. No need to give it away, but taking the middle road for price is probably your best bet to get your house sold in the timeframe needed (plus, remember, the quicker your house sells, the one less mortgage payment you have on it, saving you money that way as well). Good luck with the sale of your home!

I would say to price your home aggressively, not high. You will eliminate a lot of buyers if you initially list too high. I know you can always adjust the price but the best time to attract buyers is when you first put your home on the market. Being a new listing is an experience that you cannot get back. Remember the saying about first impressions. Price it under the market value by about 5-10% to attract the most buyers. I good buyer's agent will recognize a correctly priced home and they will show your listing to their clients.

Question: Where are you getting the fair market value from? Is this from an appraisal? the internet like zillow or something? or from a Realtor who is familiar with your area? I would consult a Realtor who is familiar with the area and who has access to the info on the most recent sales in your area (within the last 60 days as the markets tend to change rather quickly) and the short-sales and foreclosures. These properties need to be included in your comparison to find the true market value of your home.

Hi Leanne,

In my experience the best course of action in this market is to price at or slightly below market value for a quick sale. With this approach the value should be obvious to any serious buyer, be prepared to negotiate and expect low offers but come down a little then be firm. How much is a little? Well, if you are working with a qualifed realtor they should be able to provide you with statistics on sales prices to asking price in your local market, use that as a guide.

Best of luck to you
Mary