How much do you think a dollar $1 makes when pricing your Metro Detroit home? Do you thing it makes a difference when pricing your $600,000 Northville home or your $200,000 Livonia home?
It does tremendously!.
When Michigan home buyers search, they search by increments. Under $200,000 or under $600,000. When the Michigan Realtor put in the search criteria, or you search on certain sites 199,999 looks a lot better than $200,000. If you were going to price your Northville home at $605,000 it would be better to price it at $599,999. There are going to be Michigan home buyers that limit their Northville home search to $600,000. Your house will never come up in their Northville home search.
It is a psychological factor. Just like a 99 cent burger doesn’t register as a dollar. So when you reduce your price or set the list price of your Northville home keep in mind the price points.
Stay under $100,000 $125,000 $150,000 $175,000 $200,000 $225,000 etc, etc….
Be smart and show up in Michigan home for sale searchs Price your home right after looking at the latest sold comparables and an up to date CMA.
My quote of the day:
In making a living today, many no longer leave room for life.
Joseph R. Sizoo