HOW LONG HAS YOUR HOUSE BEEN ON THE MARKET?
Professional appraisers sum up their entire body of knowledge in three words: " Buyers determine value." Your home is worth as much as a buyer will pay for it.
If your home has been on the market for months, it’s a clear message that the property may not be worth what you're asking for it. This is particularly true if there haven't been many prospects coming to see it. What you do at that point depends on whether you really need to sell, and whether you're working with a time limit.
If you're not really motivated to move soon, you can always wait - years if necessary - and hope inflation will catch up with the price you want. The problem is that in that time, your home begins to feel shopworn. Buyers become suspicious of a house that's been for sale for a long time and often think, “what’s wrong with it?”
If you really do need to sell, and it has not happened yet a quality realtor should be engaging with you to review agent and customer feedback to determine – ahead of making any price adjustments – if there are things that need to be fixed, enhanced or removed to better showcase the value in your home. Beyond that, we need to be adults and share what the market is telling us with regards to pricing for the specific attributes that your home has. Anything will sell if the price is right and sometimes a “perceived deal” in the marketplace will have the possibilities of leaping over what may have been the preconceived value of the home due to the synergy that gets created from market forces when the broader public and their agents identify the home as being “in play”.