Pricing a Home in a changing market.

1. Price vs. Value - What does the competition look like? Just because your neighbors house is for sale for $xxxxxxx doesn't mean yours is the same. Many factors affect value: location, upgrades, condition, special features, etc. Look at other properties for sale in the price range you are thinking of. How does your home compare? If your home lacks some important factors the other homes have you won't sell at this price range. The best way is to compare similar home that have already sold, if your home is comparable to these homes and has more special features then you may be able to command a higher price. Ask your local realtor about trends  that make houses more desirable in your area.

2. An Appealing Price Point - you want to find a price point that will generate interest among multiple buyers. By attracting more than one interested party , you create a greater sense of urgency and competition. Your best chance of getting a full price offer is in the first 3 weeks.

3. Reprice, early and often - Your goal is to pirce your home correctly as soon as it comes on the maket. But pricing isn't always a one-time task, especially in a changing market. You must stay abreast of changes such as new listings and recent transactions and price shifts to previously listed homes that affect the perceived value of your home. How do you do this? Ask your realtor to send you updates on market conditions every 30 days so you can make sure your home is still competitive and attractive to buyers.