An elegant white clock featuring 'DANIELLE LAZIER REAL ESTATE LOGO' on a sleek black background.Vivre Real Estate logo

Pricing Your Home to Sell - No, You Cannot Party Like It's 2005.

July 5, 2011

Money Magazine Biggest Money Mistakes - Real Estate

Money Mistake #5 - Getting Stuck in the Past & Overpricing Your Home For Sale

(Money Magazine) -- Remember what your home was worth in 2005? Wipe that number from your memory. When you let an old value -- of a stock or a fund or your house -- get in the way of a smart financial decision, what might seem like harmless nostalgia can become a costly mistake.

Investors have long suffered from this problem, refusing to sell underperforming stocks and funds in the hopes that the price will bounce back. Today home sellers are the ones having trouble letting go of the past.

June 2011 Money Magazine cover story is "Fix Your 5 Biggest Money Mistakes" and lists overpricing your home for sale as Money Mistake #5 and they are right.

Just as in the rest of life, you'll be happier, richer, and live with more joy, if you focus on the present moment and leave the past in the past. The value of your home today is the value that a buyer today is willing to pay for it. Period. Bottom line. End of story.

How to know if you've overpriced your home.

If your house has been on the market for 3-4 weeks and has not sold (assuming that offers have not come in that you have refused), it is time to reduce the price...significantly. Usually, this means at least a 5% price reduction. If another month goes by & still no offers, it's time to reduce it again. Unless your listing was totally mis-marketed (not on the MLS, not online, no public showings, no photos), the reason your home has not sold is almost always because the asking price is too high.

Yelp logo
286 reviews
View All
Zillow logo
204 reviews
View All
Danielle Elazier Realtor on Google My Business- image of Google my business logo
204 reviews
View All

Danielle lazier real estate team

We care deeply about our clients and our commitment to exemplary results. Working with us should be a good fit for you. If you feel our team is the right fit for you and you’d like to talk with Danielle to make sure, contact us today for your complimentary initial consultation.
Contact Me

Do You Need Another Real Estate Newsletter?

Probably not. Yet, in our biased opinion, you should definitely sign up for our twice-monthly email for market insights, webinar invites, local news, gorgeous homes, and more. We never share or sell your information. And, when you’re ready to work with us, please email or call to discuss your plans. We’d love to help!
Consent
Danielle Elazier botanical illustration - 3 different California poppy flower branches. Black and white with line art
Danielle Lazier REAL ESTATE
Privacy PolicyAccessibility StatementTermsCalifornia Privacy PolicyCCPAYour Personal Info
View Full Street Address SAN FRANCISCO, CA 94114 (415) 528-7355 ©2011 VIVRE REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES, OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS, AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT, OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED AND SHOULD BE INDEPENDENTLY REVIEWED AND VERIFIED.
enteruserclockcross