A decade or so ago, the location of property played an integral role in how fast the property will fly off the market. However, the changing times have seen a paradigm shift in this in that today price is the greatest determinant of how fast, or slow, thereof a property will go. Rarely will you quote a price on the property and get the exact one from a buyer; there is always some negotiation that will see the price go down. Most property sellers have, however, taken the time to learn the tricks and will do the opposite. Instead of many people pricing their property as per the current market rates, they would do that based on emotions. You can always look at comparable property in the market and use things like age and amenities to make an informed decision. Another thing you should keep in mind is that if the locality has many houses for sale, you should set a very aggressive initial price for the property.
Maybe you are thinking the availability of so many properties for sale will scuffle your ambition of getting whatever amount you wish for your house. Underpricing is a tried and tested way of ensuring you are selling your property faster and at a price that will be determined by the market and not you. Assuming a property in your locality that is similar to yours in size, amenities and age recently sold for $200,000 pricing your home at $200,000 would be a perfect example of initial under-priced cost. When you price this way, you will attract a category of investors looking to make a kill from a great investment. Sooner or later the buyers will get into a bidding war, and you will have the major advantage of having the price go up naturally through a free and fair market.
Having said that, the best way to get started now when it comes to selling your property is to contact a professional. A professional comes in to conduct what is known as property appraisal to help determine the actual cost of the property in the current market conditions.A property appraiser is much more knowledgeable in regards to accepted standards and practices employed in your locality in regards to property valuation and pricing. Many a time you will discover the actual price of a property is completely different from what you had figured out since the determinants of prices in the market will often vary a lot and may even change overnight.
Always keep in mind your property is worth exactly what you manage to sell it for. To an independent investor, your home is not any special and different from all others in the market. Well, an independent investor will not see your house any different or any special from all the others in the market. However, if you want your property to fly off the market and attract very many potential buyers now, no doubt you must price it to sell.