Pretty much everyone in Bend is aware that we have a seller's real estate market. This often makes sellers price their homes for more than they are worth. While it is natural to want to get the maximum return on your home investment, it is very important to price it correctly.
In our current market, homes that are listed and priced correctly go very quickly, particularly in the lower and middle price ranges. Buyers know this as they see homes go pending shortly after coming on the market and often there are competing offers on homes. Putting a home on the market and pricing it correctly pretty much guarantees a quick sale due to our high demand and low supply and not because the home is underpriced. In fact, the possibility of competing offers may often result in above listing price offers.
A home that is overpriced loses the momentum of a new listing after sitting on the market and obtains a stigma for why it has not sold, even when the price is later reduced. Buyers working with agents see how long it is on the market. An overpriced listing just helps sell the competition and will not get shown because it is above the price range of buyers.
A good agent will be honest with you on the valuation of your home and provide comparative sales figures to support the price. Good agents will also let you know of any work that should be done to make the home more appealing to buyers so that you can get the best market price on your property.
Housing Roundup
LOW
20388 Rae Rd., Bend, OR 97702
2 beds, 2 baths, 1,367 square feet,
.29 acre lot | Built in 1971
$249,900
Listed by RE/MAX Key Properties
MID
170 NE Telima Ln., Bend, OR 97701
4 beds, 2.5 baths, 2,455 square feet,
.16 acre lot | Built in 2006
$339,900
Listed by Home Smart Central Realty
HIGH
815 NW Stonepine, Bend, OR 97701
4 beds, 3 baths, 3,296 square feet
.47 acre lot | Built in 1998
$969,000
Listed by Berkshire Hathaway Home Services
Photos and listing info from Central Oregon Multiple Listing Service
