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Are you pricing your house to the moon? Know the consequences

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Are you pricing your house to the moon? Know the consequences

Current news about the real estate market and the fact that the listing numbers are low for the existing demand suggests an inflation of properties prices; but does this justify pricing your house high? After all if you don’t ask for a fortune, how will you bring it down later?

Casas do Barlavento explains that this logic has some risks.

The trend of rising real estate prices doesn’t justify putting your property at an unrealistic price because it will not be competitive, forcing you to rectify the price later. A constant price reduction alerts potential buyers that it is a house that can still be bought cheaper. Moreover, when a property is in the market for a long time, by being too expensive, it doesn’t create a sense of urgency.  To set a realistic price for your property we suggest:

1. Do your research. What have houses like yours sold for when the deal was made in a reasonable time? And what were their original prices?

2. Contact a consultant at Casas do Barlavento, without any strings attached, and have an honest discussion with them. They will be knowledgeable about the market and will want to quickly sell your home at a competitive price.There is no one better than a local real estate consultant to tell you the realistic price of your home (without any associated cost).

Remember that sometimes trying to sell a one bedroom apartment as if it were a three bedroom villa may cost you, for instance, another year of mortgage payments.

Casas do Barlavento will help you set the right price to sell your property.