I raised the asking price for my house 5K. How much harder will this make it sell my house?
2007-06-07 06:56:33 · 9 answers · asked by Alex J 3 in Business & Finance ➔ Renting & Real Estate
It depends on how long your home has been on the market, how you are selling it (for sale by owner or Realtor), and why you increased the price. If you just put your home on the market and you raised it shortly thereafter it should have little to no impact. However, if your home has been on the market for awhile and then you go ahead and increase the price it may have a large negative impact. If there is a good reason as to why you increased the price again little impact versus no reason which could have a large impact.
2007-06-07 07:03:20 · answer #1 · answered by dzwreck 4 · 0⤊ 0⤋
5 thousand is not a lot. Most people would not really care, because on a 30 yr. mortgage at about 6% it will not make any huge difference to their monthly mortgage. Now a way to sell your house quicker would be to lower it by a few thousand and that will get more people through the door, the more people the more likely someone is going to fall in love with it. So, if your home is in good shape and worthy to be fought over, people will start trying to outbid each other. So, you end up getting more then you expected.
2007-06-07 07:15:02 · answer #2 · answered by zl 2 · 0⤊ 0⤋
Although it is not a drastic amount, some people will not look at a house that is having upward price adjustments.
Did you make a major upgrade to justify the adjustment? I could probably explain that one to a buyer. But if you painted a room, planted some flowers and increased the price, it is probably ill-advised in a buyer's market.
2007-06-07 07:48:20 · answer #3 · answered by godged 7 · 0⤊ 0⤋
As someone else said a realtor can see in the mls that you have done this...unless its a for sale by owner. what are other homes priced for in your neighborhood? Are you in the right range? How bad do you need to sell the house? These are all things you may want to consider.
2007-06-07 07:03:34 · answer #4 · answered by miztiffany 3 · 0⤊ 0⤋
NOT a good move, unless you are in a genuine seller's market. You should have left the price where it was. After all, you always have the right to refuse any offer, even if it is at full asking price.
2007-06-07 07:00:22 · answer #5 · answered by acermill 7 · 0⤊ 0⤋
it would make it tougher to sell. right now we have tons of houses new and resale on the market. only not enough qualified buyers. the competition is great.
if you have limited activity on your house for 1 month and no offers. might be a good idea to lower the price. also, depends how desperate you are to sell.
2007-06-07 07:03:37 · answer #6 · answered by KAZONE 4 · 0⤊ 0⤋
Aside from the doom and gloom above it MIGHT have helped you. MLS searches are for such and such amount through such and such amount. Your 5k raise may have put into the low end of what a differant set of buyers is looking for. It actually can work to your advantage. Think positively!
2007-06-07 07:11:42 · answer #7 · answered by Anonymous · 0⤊ 0⤋
if you get the price you want, you may give the buyer the terms THEY want. Also do some landscaping outside, that raises value quickly.
2007-06-07 07:00:19 · answer #8 · answered by Michael H 2 · 0⤊ 0⤋
That's gutsy, at least in this market. If I were a realtor and saw this (and they can), I might steer away from your property altogether, as I'd expect negotiations with you would be difficult.
2007-06-07 07:00:38 · answer #9 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋