Home prices are starting to appreciate once more and many homes are selling briskly. If you are placing your home on the market to sell now, be careful with your pricing strategy. Interest rates have started to increase and the purchasing power that today’s buyers have is now more limited. When mortgage rates increase, buyers have to lower the price of the home that they can afford.
What is the best strategy in pricing your home?
Don’t overprice it. Contact your Sibcy Cline agent to get a realistic overview of what homes are currently selling for in your area. That should give a good indication (along with following current mortgage rate increases) of what price your home should be to appeal to the largest sector of the home-buying public.
Read more about this topic from The KCM Blog here.
Image courtesy of The KCM Blog.