Monday, April 14, 2008

Listed Price vs. Market Value in a Declining Market

Pricing your home in a declining market is extremely important. If you price your home above the market value in a declining market, you will ride the market down. The only way is to make a major price reduction as outlined in the graph below.

It's important your home is priced correctly so you're either at or a little below the market value. Let's face it, people are looking for good deals and with the glut of available homes on the market, pricing your home above what it's worth will eventually cost you more money and time!

If your thinking of selling in the next few months, you can stay on top of the market by subscribing to my San Fernando Valley market snapshot . If your ready to sell now, call me!

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