Big Mistake.  A big mistake that home seller’s make is that they often set their asking price, based on what they paid for the property.  For example, I hear frustrated, unsuccessful sellers justify overpricing their homes by rationalizing that ”We are asking $265,000 because we paid $250,000 and want to break even.” 

The truth is, what you paid for your home doesn’t matter to anyone except you.  While it is painful to admit a financial loss, don’t dig yourself in even deeper by thinking that someone else will pay for your mistake.  They won’t.  And, their lender and appraiser won’t, either

Real estate is just like the stock market.   The Buyer determines the price they will pay, not the seller.   For example, if you bought Citibank at $120 per share and its now trading at $3.00, then $3.00 is what the asset is worth.   The fact you paid $120 a share is irrelevant to buyers in the marketplace.   The situation is exactly the same for real estate.

If you want or need to sell a piece of real estate, forget about what you paid for the asset.  The only thing that determines today’s value is what a buyer would be willing to pay today.   To determine the realistic, current value of your home, research what other homes like yours have actually SOLD for by searching on your local, county property tax database or websites like Realtor.com or Zillow.com. 

Thank you for visiting InfoTube.net.  House are selling, but only the homes in the best location, condition and price.  The summer selling season is rapidly passing by and its time to get serious.  If not, you may find that home values are even lower next year.  To reach 10 million home buyer’s each month, call us for an MLS and search engine listing for your property.  You won’t find a better way to let the world know your home is for sale and time is passing you by.