When selling your home, the (otherwise noble) idea of sticking to your guns, and waiting it out for a higher price doesn't work. It not only prolongs the agony, but in the end you end up with less money. People often say, "I'm in no rush, I'll just wait to get my price." Waiting does not improve your odds. I'll prove it.
So far this year 365 single family homes have sold in the Tucson Foothills. Those that sold in the first 30 days, sold for more than 96% of the list price. Those that sold in 91 to 120 days sold for just 91% of list price. And then inexplicably, those that sold in 120 days or more, sold for 92% of list price.(the exception that proves the rule, eh!)
Using those percentages, a home listed for $750,000 and sold in the first 30 days for 96% of list would fetch $720,000.
At 91 - 120 days, $682,500.
And at 120+ days, $690,000.
Where would you rather be.
And this doesn't even take price reductions into account.
Selling in the first 30 days means you probably didn't reduce the price, because you didn't need to.
At 90 or 120 days and up, it's very likely that you did reduce the price at least once, and maybe more. So even though the figures indicate that those homes are selling for 91 or 92% of list price, it's very likely that that's based on a reduced list price. (the MLS calculates the % of sale price to list price based on the latest list price, not the original)
Price it right, sell fast, get more money.
see my web site thefoothillsToday.com
to search for and learn more about Tucson Foothills Homes
