Clear signs that the asking price for your Ceredigion home is too high
To say it has been a challenging twelve months would be an understatement, and there have been highs and lows when it comes to the property market in Ceredigion. Regardless of the market conditions, it is essential that when selling your home, you always get the price right!
To put it simply, buying a home often boils down to the price. There are a few ways you can quickly identify properties which are overpriced, and this knowledge will put you in a better position when you are looking to buy. It could be a refreshing change to find that a property you love is actually overpriced, and not just completely out of your budget. Read on to discover how to spot an overpriced house.
Putting the price of your property too high could have several bad side effects that could be the reason why your house doesn't sell. Here are our clear signs your price is too high.
Because you have done work to the property it must be worth more right?
Some owners decide their own asking price when selling their home. It can be that they believe it is worth a certain figure, due to the amount they paid for it and then the works they have done to it since purchasing it. Sadly, the property market doesn't always work like that - we wish it did. There is often a ceiling price for what a house can realistically achieve in a particular area and in the current market conditions, it means the value of your home can fluctuate.
The sales team at Alexanders want you to achieve the highest possible sales price, and our valuations are based on research, expertise and knowing the current market which your buyers will be willing to pay. We take on board the works you have carried out to the property and we negotiate strongly, ensuring that everything we do is for you and getting you the best price for your home.
Swayed by the highest valuation and the big bucks
From the moment you meet our team, you will see that we provide an honest and straightforward approach. We know our expertise and the experience of our clients, together with our local knowledge, is why we are considered one of the best estate agents in Ceredigion.
The valuation we give of your home is not inflated in any way to win your business. As difficult as it may be when deciding on an estate agent to sell your home, don’t be swayed by the big bucks, take all aspects of their service and their experience of selling local properties into account. Prices can be negotiated but please choose the agent that shall be there with you through not just the beginning, but the middle and the very very end at completion. (and even after!)
The price is not right - buyers already have done their research online!
Another trap you can fall into if you’re swayed by the big bucks is the scorn of the savvy buyer. Buyers today know their way around the property portals; they know what reports to review and how to look up Land Registry details, and they know an overpriced house when they see one. No matter how stunning your home looks in the marketing materials, if a buyer’s research tells them it is overpriced they will simply stay away.
Viewings are down
Your house is on the market, you have seen it on the property portals and you wait with anticipation for the virtual and physical views to start racking up. The minutes pass, the hours tick by, and the days turn into weeks, and that initial excitement begins to turn into dread. The viewings you have had have started to dry up, and you are wondering what you can do to turn things around.
Does it match the value of neighbouring properties?
If the property next door is worth a fraction of the home for sale something is amiss. House prices should be, within reason, comparable. Take a look at current listings and recently sold properties; this should give you a realistic view of the local market as what houses are listed at isn’t always what they sell for.
When placing your home on the market in Ceredigion, it is essential that you get the price correct from the start, so you don’t fall into any of these traps. If you want your home sold and not just listed, then you need to use an estate agent who understands the importance of valuing your home correctly.
Wondering what your home is worth?
Feel free to get in touch and find out for free!
Take care,
The Alexanders Team.