The Dangers Of Overpricing Your Home

What is going on with the housing market? 

Since August 2022, we have seen a shift in the housing market. Rising interest rates triggered the change. The market is moving toward more normal conditions. Correctly priced homes are still selling, but the days on the market are increasing. 

The topic of this today's free PDF guide is the dangers of overpricing your home. There are six dangers of overpricing your home. We will look at each of them briefly. You can download the full report to review it in more detail. 

6 Dangers of Overpricing your home 

Timing is everything: The most significant potential for buyer traffic is in the first thirty days. By pricing too high, you are missing your best candidates. 

Showings shut out: Buyer's agents are not likely to show overpriced listings to their clients. Benefits the competition: Overpriced homes are a selling point for market-priced homes. 

Lender trouble: Even if a buyer agrees to buy an overpriced listing, there must be a successful appraisal for a successful sale. The bank will only make the loan if the appraiser can justify the price. 

Time on the market: Overpriced homes will sit on the market. Extended time on the market makes the buyers think there are more significant issues inside the home's walls. 

Lower proceeds: Overpriced homes almost always sell for less. Extended time on the market costs the seller more to maintain the house. 

If you want to know how much your home might be worth today, use our free home valuation tool. If you plan to sell in the next few months, we would love to provide you with a free Comparative Market Analysis.