There is a big problem when selling a property in this neighborhood – mis-pricing. You see, unless you’ve lived in this neighborhood, you would never know just how different this particular area is from the neighborhoods surrounding it.
Cross Tatum Blvd, and watch the property values skyrocket. Head west, and watch the values plummet. It’s no wonder homes priced in this neighborhood seem all over the place – 90% of homeowners AND real estate professionals don’t understand home values in this neighborhood.
Mis-pricing is the #1 reason home sellers get frustrated when trying to sell a property.
It is the root of all frustration.
Imagine for a minute you are ready to sell your home. You reach out to a Realtor your friends used recently who did a good job selling their home in Chandler. Like most, this Realtor doesn’t know the nuances of this neighborhood, but you list with them anyways at $400,000 as they suggest.
You spend two weeks cleaning the house, making repairs and making it shine. You are hoping for a quick sale at a great price. After two weeks on the market you not only don’t have any offers, you didn’t have a single person look at the house.
Another few weeks go by, and still no activity, logically you decide to lower the price. But there still no activity, so you lower it again….and again…and again… 6 months later, you end up at the listing price it should have been all along.
But it’s too late because now buyers now think “This house has been listed for 185 days, there must be something wrong with it…NEXT”
You finally get a LOW offer on the property. You are so fed up with the process and ready to be done so you accept it, and end up selling the house for $20,000 below market value, ouch!
This is NOT a made up scenario, it actually happens quite frequently in this neighborhood, but it is 100% avoidable. It’s not just pricing too high that can cause issues, pricing too low isn’t good either. With every property, there is a CORRECT price which will yield the best price in the shortest amount of time. Getting this price right is especially critical in this neighborhood.
-Hiring the wrong professional
-Pricing the home incorrectly (this can be too high OR too low)
Know your value!
If you use a real estate professional to help sell your house who does NOT specialize in this neighborhood, be prepared by knowing the value of your house and of your immediate neighborhood beforehand.
Here are some free tools to help you do just that.
Neighborhood Expert Program – Custom Instant alerts when a home in your subdivision or on your street sells or is listed.
Home Valuation – Get your exact property value, custom for the nuances of the neighborhood.
