How Do I Know if My House is Priced Right?
Successful pricing strategies in any endeavor must take the competition into account—so when it comes to right-pricing your Costa Mesa home, that factor is at least as important as any other.
From the seller’s point of view, right-pricing starts with a walk-away number: a price that would be so low it would result in financial hardship. Offers at or below that level are not welcome (although good practice dictates a counter, rather than a true walk-away, which risks bringing emotion into what might otherwise have resulted in an acceptable final offer). At the top of the pricing range are the outlandish pie-in-the-sky prices that never really materialize. Those billionaires who don’t care about their bottom lines also never materialize. As has been pointed out elsewhere, they didn’t become billionaires by not caring about the bottom line.
From the buyer’s point of view, right-pricing is what they’re looking for (or at least hoping is out there, somewhere). Many of today’s serious house hunters begin combing the Costa Mesa listings by specifying a price range. It may top out at just a bit more than they will be actually willing to pay— but the lower number is often well below what they can afford. Needless to say, if a listing fits all their other criteria but the asking price is below comparable offerings, it’s a lead pipe cinch they will be calling their Realtor® to arrange for a showing. It’s a phone call they’ll make sooner rather than later—especially if they’ve had earlier experiences that led to a bidding war.
You can be reasonably assured that your house is priced wrong if it’s been on the market for months with no reasonable offers forthcoming. Other market factors can be at play, but the asking price is the first place to question.
So how do you know if your Costa Mesa house is priced right? If you are confident that your property is in top shape, and if your agent’s comparable report shows that recent similar sales have closed safely above the walkaway level, setting a price that’s below top dollar should result in a strong buyer reaction—and a timely offer (or offers) from qualified buyers on terms that put a smile on your face.
That’s how you know your house was priced right! Getting there means teaming with experienced Costa Mesa professionals—which can start with a call to our Team!
We are built on a philosophy of Heritage & Hustle L3 is a full service real estate agency with a regional office located in the heart of #CostaMesa, offering a wide-array of custom services to meet their clients’ needs with roots in the community since 1976. It’s L3 mission to provide trusted, convenient, responsive service to ensure clients enjoy their real estate experience. L3 was originally formed to offer personal, concierge-level service as an alternative to the large, nationally based real estate companies. From its small beginnings of only two employees, L3 has grown to a full staff of 20 serving over 300 clients a year. L3 is not limited to serving just its clients; it is also committed to serving the community. Not only has L3 donated hundreds of hours to many area charities, they have also received the prestige of being named one of the #toprealestatecompaniesinCostaMesa If you’re interested in #buyingorsellinginOrangeCounty, turn to the experts. Turn to L3 and let them help you make your real estate buying or selling dreams come true. For more information or to get started on finding or selling your home contact L3 today at 714-444-4663 or email us at info@thel3.com
