The biggest mistake I see people make when pricing their Charlotte home

Too many folks around here list their house based on what they paid for it back in 2015, not what the current comps show. I watched a three bedroom off Monroe Road sit for six weeks because the seller wanted to break even, when two similar houses a block over went under contract in 10 days at $25,000 less. Have you noticed people getting stubborn about their asking price around here?

2 comments

2 Comments

wyatt_chen866d ago

Three bedrooms off Providence Road just did the same thing last month - listed for $450k based on what they paid in 2016, and @blake_martinez is exactly right, the market doesn't care about your history. I told my neighbor the same thing when he tried to price his ranch at what he needed to break even, and now he's dropping $5k every two weeks and still no offers. Makes me feel better about my own bad decisions though, like that time I bought a fixer-upper thinking I could flip it in a month and ended up living without a kitchen for six months.

blake_martinez6d ago

Man, I see this all the time around here. People get hung up on what they owe or what they paid, but the market just doesn't care about your feelings. If your neighbor's house sold for less, that's what buyers are going to compare yours to, not your 2015 mortgage balance. I've had to tell friends to swallow the loss and price at what the comps actually show, or just watch their listing get stale while the good stuff moves quick.