Homes in our area are actually selling for about 96-97% of list price at this time and that has been the case for several years now. Professionals here know when we list a home, we HAVE to price it where it should logically sell so we aren't inflating prices. There are some specific communities that vary a little bit.
Depending on the situation, most buyers are also asking for some assistance in paying closing costs. So if you are thinking of listing your home, be prepared for that to come on virtually any offer you receive.
You can sometimes roll those expenses into the price of the home. For instance, if your price was $225,000 and the buyer asked for $5,000 in closing costs too, you may be able to say yes, if they will agree to purchase the home at $230,000. However, the home must appraise for sales price or greater so be aware of that before you tack on that amount. An excellent agent will explain the possible scenarios and make sure you are prepared.... more