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How can I tell if my home is priced to high?

How can I tell if my home is priced to high? it was valued by three estate agents and i took the middle price, My home is in top condition plus a conservatory and parking for three cars, a house of similar size a few doors away has been valued at £70,000 less than mine but it needs complete refurbishment and there is no car parking at all, the gas tank is in the front garden and the pavment is about six feet from the front door, should I wait to see what happens or should I reduce my house now?

Asked on Jun 6 2010, Selling in Dyffryn Ardudwy | Report content

Answers (3)

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  • Ask your agent for their opinion, if you have been on the market for a while and had very little interest or no offers I would say you may be asking too much. Also you ae over the £250,000 stamp duty threashold where buyers are paying 3% £70,000 is a big difference in the price and either you are too much or they are too cheap.

    Answered on Jun 7 2010, Report content
  • If you have been on the market for more than a month or two at a price and had no solid action, it would suggest that you are asking too much and need to talk to your agent as to how best move things along

    Answered on Jun 10 2010, Report content
  • There's actually no great scientific formula here it just simple economics in that property prices are determined on a supply and demand basis. If your home is priced too high it will not sell and likewise if its too low it will sell quickly. The factor you need to consider is how quickly you want to sell, then review similar houses on the market that you are competing against. If your price is not too far adrift, you then need to review what marketing activities your agent has undertaken (the primary marketing strategy should be to advertise the property on Rightmove and Zoopla, as all serious buyers would look here).

    Answered on Jun 18 2010, Report content

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