Tiffiny Alexander
Tiffiny Alexander, RE/MAX Gold
Email: [email protected]

Is Your Home is Overpriced?

by Tiffiny Alexander 09/08/2019

In the real estate market, the value of your home depends on several other factors, other than the price you paid for it. For one, the price buyers are willing to pay for it at any particular time may depend on prevailing economic conditions, mortgage rates, the season of the year and a host of other things affect the value of your house.

  1. The price of other homes in the neighborhood is way lower than yours. Buyers usually know what the general sale price of houses in a location is, and when they notice yours is way over that, they get the impression that you are unreasonable and might not even bother to see the property. Real estate agents often go through a comprehensive process before advising clients on an appropriate price range so don't unduly pressure your agent into raising his estimate.
  2. You haven't had many showings or offers made since the listing. If you haven’t received any offers after about 3 or 4 months and no prospective buyers have come to view the property, there might be a couple of reasons responsible. Ask yourself if your agent is trying his best to promote your listing and if other houses in your neighborhood are moving. If both answers are yes, then it might be a likely fact that your home is overpriced.
  3. Other similar houses in the community are selling, and yours is not. There are different reasons why this may be so, are those houses newer, larger or have better features? And sometimes the reason theirs is selling, and yours is not is because it is overpriced.
  4. Expired listings. Real estate agents often state the listing period on the listing agreement, and if this period expires without being sold, you might want to review your price downwards as it might be an indicator that your house is priced too high. It doesn't mean there are no buyers; it just means the buyers who came were not willing to offer that much.

It's critical that you ask for feedback from your agent as to why your house did not sell. That gives you the opportunity to correct things that certain buyers didn't like.

About the Author
Author

Tiffiny Alexander

 

Tiffiny Alexander is an award-winning broker in both California and Arizona. She’s a wine country native, bringing more than two decades of market knowledge and industry experience to those she serves. The hallmark of her business acumen is marked by her blue-collar-work-ethic roots coupled with a cornerstone concept of always being able to put her name to her work. Tiffiny has handled an array of residential, land, and commercial real estate requisites. She is an International Certified Luxury Home Marketing Specialist, leveraging a global reach of industry relationships to better serve her clients. She enjoys the opportunity to work and play in both The Valley of the Moon (her Northern California headquarters), as well as The Valley of the Sun (her Scottsdale and Phoenix Arizona office). She’s mastered the art of connecting her clients with the American Dream of building wealth through real estate; be that primary residence, destination get-away, or cash flow investment opportunities. 

 

Tiffiny is passionate about the outdoors, art, and the architecture found in abundance throughout the Sonoran Desert as well as the wine country of Northern California. Where can she be found when not immersed in all things real estate?  Hiking or running the local trails, teaching art in the Rincon Valley School District and introducing new local artists to the community at Fulton Crossing Gallery in Santa Rosa, California. Tiffiny grew up on a ranch in Northern California well stocked with farm animals, fresh eggs, and produce, She’s a farm-to-table foodie, whether its fine dining or family-style. And while she enjoys the luxuries of a five-star resort, she’s just as happy backpacking some of the amazing places thoughtfully preserved for the nature-lover in her. 

 

Tiffiny is the founder of Cannabis Land Brokers, the flagship real estate group dedicated to helping cultivators and distributors buy, sell, and lease cannabis zoned real estate. She is committed to legal, responsible, and sustainable business practices for the industry. She works locally and nationally to connect and inform owners and growers through her work with The National Cannabis Industry Association.  

 

"Everything comes from the land. All of our stories start with some small patch of it. The soil feeds us. The earth grounds us. Vistas inspire us. Our truest sense of progress points back to our stewardship of the land.” - Tiffiny Alexander