Why You Need a Hometown Expert To Determine the Right Price for Your Tennessee House
If your lifestyle has changed recently and you’re ready to make a move, taking advantage of Knoxville, Tennessee’s market might be just the answer for your summer plans. With homes continuing to get multiple offers, this could be your moment to get the contract you’re looking for on your Knoxville house if you’re ready to sell.
And here’s the thing – you need a Hometown Expert on your side to ensure you make all the right moves when you do, especially when it comes to pricing your house. Even in this competitive Knoxville market, you can’t stick just any price tag on your home and get the deal you want. A key piece of the puzzle is setting the right asking price so you can help buyers notice your home (and get excited about it) from the very first time they view the listing. That’s where a real estate professional like Ryan Coleman comes in.
Why Pricing Your House Right Is Important
The price you set for your house sends a message to potential buyers. Price it too low and you might raise questions about your home’s condition or lead buyers to assume something is wrong with the property. Not to mention, if you undervalue your house, you could leave money on the table which decreases your future buying power.
On the other hand, price it too high, and you run the risk of deterring buyers. When that happens, you may have to do a price drop to try to re-ignite interest in your house when it sits on the market for a while. But be aware that a price drop can be seen as a red flag for some buyers who will wonder why the price was reduced and what that means about the home.
In other words, think of pricing your home as a target. Your goal is to aim directly for the center – not too high, not too low, but right at market value. Pricing your house fairly based on market conditions increases the chance you’ll have more buyers who are interested in purchasing it. That makes it more likely you’ll see multiple offers, too. And if a bidding war happens, you’ll likely get an even higher final sale price. Plus, when homes are priced right, they tend to sell quickly.
To get a look into the potential downsides of over or underpricing your house and the perks that come with pricing it at market value, see the chart below:
Lean on a Professional’s Expertise
There are several factors that go into pricing your house, and balancing them is the key. That’s why it’s important to lean on an expert real estate advisor when you’re ready to move. Ryan Coleman has been in the Real Estate business for over 22 years and has knowledge about:
- The value of homes in different neighborhoods throughout the Knoxville area
- The current demand for houses in today’s East Tennessee market
- The condition of your house and how it affects the value
The Hometown Expert team will balance these factors to make sure the price of your house makes the best first impression and gives you the greatest return on your investment in the end.
If you’re thinking about selling in the Knoxville Area, pricing your house appropriately is key. Reach out to the Hometown Experts to make sure your house is priced right for the Knoxville market, for your home’s condition, and to stand out from the competition.
Let Us Help You!
Are you looking to buy or sell a home in Knoxville, Tennessee? Please don’t hesitate to reach out to Ryan Coleman and our team at Hometown Realty as a trusted source for up-to-date real estate information in the East Tennessee area!
Real Estate With Ryan
In this week’s episode, Ryan Coleman talks about the Knoxville housing market. Is it a seller’s market? Is it a buyer’s market? This is something Ryan has first-hand experience with so you’re not going to want to miss this information.
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