PRICING YOUR PROPERTY IN THE CURRENT MARKET

With the market swinging towards a buyer's market, if you are currently either selling or thinking about selling a property it is important to come up with a solid strategy that will get you that fair market price quickly. Let's face it, even in the Vail Valley the days of simply pricing your property at the "high end" and getting multiple offers within a week are temporarily on hold. We are currently in a "reality check" mode as buyers have a big selection of inventory to choose from. Pricing your property to sell is critical at times like these, so what does that mean? First of all your property must be perceived as a good value to perspective buyers, this is because there is a glut of inventory on the market. Unreasonably priced properties simply will get very few looks and offers in this market. Secondly, if your property is priced properly, you most likely will get an offer that is close to asking price. Personally, I have gotten two full price offers and one very close to full price on three of my last listings because the properties were priced to sell. The sellers had a realistic view of what they could get for the property in this market, priced accordingly, and sold there properties for full price or very close...of course that then provides them with an opportunity to move into their next home and shop in a market which is favorable to them as a buyer at this time. The bottom line is price to sell "smart" and realize that we are in a changing market for sellers and buyers alike.