WATCH: Why Setting The Right Price for Your House is Essential in Real Estate Industry Today
By Space Coast Daily // October 7, 2020
home prices nationwide are forecasted to increase by 4.7% in 2020 and 4.1% in 2021
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BREVARD COUNTY, FLORIDA – In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.
According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.7% in 2020 and 4.1% in 2021.
“I believe home values in Brevard County will continue to climb into next year,” says Jennifer McCoy, Broker/Owner of McCoy-Freeman Real Estate serving all of Florida’s Space Coast.
“The low inventory, historic low mortgage rates, and high buyer demand will keep home values from depreciating,” says McCoy.
How to Price Your Home
As a seller, you might be thinking about pricing your house on the high end while so many of today’s buyers are searching harder than ever just to find a home to purchase.
You’re thinking, higher price, greater profit, right? But here’s the thing – a high price tag does not mean you’re going to cash in big on the sale. It’s actually more likely to deter buyers and have them looking at the houses your neighbors are selling instead.
Even today, when the advantage tips toward sellers because there are so few houses for sale, your house is more likely to sit on the market longer or require a price drop that can send buyers running in the other direction if it isn’t priced just right.
A Trusted Real Estate Professional Will Help
It’s important to make sure your house is priced and marketed correctly by working in partnership with a trusted real estate professional. When you price it competitively, you won’t be negotiating with one buyer over the price.
Instead, you’ll have multiple buyers competing for the home, and that’s what ultimately increases the final sale price.
“I did this with my listing at 2128 Auburn Lakes Dr in Rockledge. Multiple offers received within 48 hours of listing and my seller was able to pick the best offer and terms which sold well over the asking price,” said Real Estate Agent Bobby Freeman.