Agent

Sellers hone real estate pricing strategies

Low-end price lets market bid up value
Published on May 17, 2004

Pricing to obtain the highest selling price possible depends on an unbiased analysis of the comparable sales data for your neighborhood. Although tempting, it usually doesn't make sense to select a list price for your home based on the one stupendous sale in your neighborhood. Recently a home sold in the desirable Crocker Highlands neighborhood in Oakland, Calif., for a precedent-setting price. The house was listed at a reasonable price, taking into account that it lacked a garage. But, nonetheless, eight buyers put their best foot forward in hopes of being the lucky one. The property sold for considerably over the asking price, even though it had no garage. The draw was one of the most incredible park-like backyards in the neighborhood. A garage could be built. But, the backyard was irreplaceable. It would be risky to use the sale price of an exceptional property like this as the basis for deciding on what price to ask for your home. A more prudent approach would be to delete this e...

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