The Danger of Overpricing

When setting a price, why not ask for the moon?

Make no mistake, I want you to get the best possible price for your property. However, when a home is priced to high for the market:

• It attracts lookers, not legitimate buyers.
• It implies that you aren't motivated to sell.
• It reduces the number of showings.
• It helps the competition look better.
• If it doesn't appraise at a higher price, a buyer may not be able to secure a loan.
• You may ultimately have to drop your price below market value in order to sell.