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"What's my house worth?" Pricing it right TODAY.

Thursday, March 26, 2020   /   by Vanessa Saunders

"What's my house worth?" Pricing it right TODAY.


Inman News, the real estate industry's leading online information source, reported today that the economic slowdown during the COVID-19 pandemic is affecting home sales negatively. From Mar. 9 to Mar. 16, Google traffic saw a 35 percent decrease in home searches.

The report quoted one broker who said, "Over 350 homes withdrew or canceled from MLS across Massachusetts in the past four days alone.” The broker went on to point out that "One in four properties had already reduced their price. One out of 20 had reduced their price by 10 percent or more, and one out of 12 were listed for less than the assessed value."

What this tells us is that sellers need to be more realistic about setting their asking prices. Setting the right price for your house is one of the most important things you can do.

With prices slowing from their previous pace, homeowners must realize that pricing their homes a little over market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing (see the chart below).


Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.

Global Property Systems says:
The secret is making sure your house is Priced To Sell Immediately (PTSI). That way, your home will be seen by the most potential buyers. It will sell at a great price before more competition comes to the market.


  hudson valley real estate, hudson valley property, hudson valley home, buying a home, hudson valley home sellers, 'urb to 'burb, housing sales, selling your home, making an offer on a house, sales strategies, house pricing, negotiating price, the economy, health crisis

Global Property Systems
Vanessa Saunders MBA MIMC CIPS - NYS RE Principal Broker
56 Lafayette Avenue Suite 320
White Plains, NY 10603
914-290-5258


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The information appearing herein has not been verified by One Key, Inc or by any individual(s) who may be affiliated with said entities, all of whom hereby collectively and severally disclaim any and all responsibility for the accuracy of the information appearing at this web site, at any time or from time to time. All such information should be independently verified by the recipient of such data. This data is not warranted for any purpose.

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The data relating to real estate on this website comes, in part, through the IDX of the Multiple Listing Service of Ulster County, Inc. Real estate listings held by brokerage firms other than Vanessa Saunders - Global Property Systems are marked with the IDX logo and detailed information about them includes the name of the listing broker.
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