There are only 2 ways to price a home

1. Priced to Sell

2. Priced to Keep

This is one of my Canadian friend's rule of thumb on pricing, and I fully agree.  In any real estate market cycle, this rule of thumb works.  It's one of the keys to the success that I have had at liquidating properties for owners or banks who MUST sell.

Too often I believe we all forget about the dynamics of selling real estate.  It is everyone's intention to sell a house at absolute top dollar and then buy a house in perfect condition for the absolute lowest dollar.   It rarely ever happens this way.   More often than not, home owners end up having to reduce the price because the idea that "someone will come along and just fall in love with it" never happens.  Frustration sets in and the price drops start .....often just chasing the market down.

My professional opinion:  Price it to Sell.

Price it to sell and move on!  Understand that you are not getting top dollar, but you will get the satisfaction of knowing your house is sold.  You will be one of the few who get to go shopping in an over saturated market.  You will have the pick of the best homes.  You will not pay top dollar but instead will get an incredible deal on a great home.  You will come out ahead!

Another of my favorite sayings:  Price it low and watch it go.

And my marketing motto that I live by:  Traffic = Sales.  (must have people looking at the house if we want it sold)