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Real Estate Tips
Pricing >Overpriced

In the real estate world, a large group of people are looking to buy homes at any given time. These are the seller's best prospects. This ready group of buyers is wasted, however, if your house is overpriced.

People who have been shopping around and are accustomed to comparing properties will probably refuse to look at your home with an unrealistic price tag. You and your real estate agent may know that you would sell for $10,000 less, but the buyers do not know this. As a result, your overpriced property receives little attention.

Don't be fooled into thinking that your house is worth more than someone is willing to pay for it, or that it's just a matter of waiting for the "right" buyer to show up. Surveys show that the longer a house is on the market before being sold, the greater the drop in price from the listing price when it does sell. The buying public eventually sets an accurate price. An overpriced house just sits on the market, waiting for a price adjustment before it will attract a buyer.

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The Cathy Manchester Team, REALTOR®, real estate agent and broker for Gray, New Gloucester and Little Sebago Lake, Maine home listings, property and land for sale - NUMBER1EXPERT(tm)

The Cathy Manchester Team
Keller Williams Realty
19 Main St.
Gray, ME 04039
Call us 7 days a week: 207.653.7653
Fax: 207.657.4740
cathym@maine.rr.com

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