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The Denver Business Journal has a very honest article that should be read by anyone selling a house in todays market. It seems we are always comparing our own home to the spectacular one  that sold down  the street, or the one  that sold at the  top of an overhyped market. Being human, we feel that our home deserves top dollar like the other homes have achieved. Well, Elizabeth Richards tell us that the reality may be different.

An average property possesses one or more of the following characteristics:

• It does not “wow” with extraordinary finishes;
• It does not evoke an emotional connection with a buyer due to its historic and architectural charm;
• It is not in a prime or heavily sought after location;
• It does not scream out to be “the deal of the century.”

In essence, it all comes back to supply and demand. If your property is not a rare and sought-after breed, it’s deemed average. Much like comparing your children to others, sellers like proud parents have a very difficult time acknowledging when their home may be average at best.
What is the cause behind this overpricing phenomenon? A main source is current sellers who bought at the height of the market a few years ago and paid top dollar, and now are deciding out of either necessity or desire to sell. These folks are unable to come to grips with the reality that they may just break-even or, worse yet, have to bring money to the table. No doubt that such a situation would be a tough reality to accept.  via the Denver Business Journal

So when you are selling your home, remember to price it to sell for the market, not for what you need to sell it at. Otherwise you will be fighting a frustrating and uphill battle.

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