In the Lake Charles Real Estate Market, we are experiencing a high inventory of homes and buyers have their choice. Which would you pick if you are a buyer, the best home buy or the prettiest house?
Our society is a value minded society, consumers want to see value.
Everything is geared towards value and we have seen it become more popular with the value reality TV shows. Home shoppers go to extremes to obtain shopping values on TLC Extreme Couponing and HGTV Property Virgins educates first time home buyers on choosing a home with value.
Lake Charles Home Sellers just because you have a beautiful Lake Charles home that may be the nicest in the neighborhood does not mean it is priced to sell in the current Lake Charles Real Estate market.
Most buyers searching for Lake Charles Homes for Sale have what is known as a “breaking point” For instance, there are alot of Lake Charles Buyers searching for homes UP TO $200,000 but NOT over. So if you price your home at $209,500, you are hurting your chances of selling. Remember the Buyer is looking for value in their budget, so pricing at $200,000 or $199,999 would be a better idea to remain in the buyer’s search range.
Beauty contests are just that, beauty is the only attribute needed to win. Buyers will be attracted to beautiful features
- granite counters
- spa bathrooms
- gourmet kitchen
However beauty may not WIN over PRICE.
So if you are receiving feedback from showings on your Lake Charles Home for Sale about how beautiful the home is but NO offers, your home is competing in the beauty pageant and NOT priced for the competition of the Market Price War.
To be among Lake Charles homes that sell, your home must be seen with value to a Lake Charles buyer that will allow justify a top price. If your home is not rated highly in all condition, features, location and size, then the price will need to be adjusted for these deficiencies.
If your Lake Charles home for sale is not being shown by Lake Charles Realtors on a regular basis and attracting buyers, it is usually an indication that the home is priced too high. Lake Charles home sellers must be prepared to make price reductions when all the real estate indicators point in this direction. Holding firm to your original listing price is unrealistic and uncommon. Statistics show that sellers who make one price reduction, over one third will make a second price reduction.
As a Seller neither You or your listing agent dictate the market – buyers do. In fact, one definition of market value is the price that a ready, willing, and able buyer will pay for your home.
If you are currently a Lake Charles Home Seller what is your goal? Do you want to win the Lake Charles Home Beauty Pageant or the Lake Charles Price War? Remember, its a combination of condition and value combined that buyers are looking for!