Even in Palo Alto's Heated Market, Overpricing is Not a Good Idea

Everyone knows Palo Alto's housing market is hot, homes get multiple offers, and sales can be wildly over asking price, but that does not mean a seller can price his/her home at any price and get these results. As a long time Palo Alto real estate agent I can assure you that today's buyers are more informed than any buyers from previous years.

Most buyers looking at a specific neighborhood are as informed about values as most realtors helping them. They know what has sold, and for how much and they know how the recent sales compare to your home, so don't think you can fool them.

If you price your Palo Alto home a lot under market value you will get many offers and a price over asking. If you price your Palo Alto home at market value, you will not get as many offers, and you will not end up with a price wildly over asking, but you will probably end up at the same price as if you priced it wildly under value.

However, if you over price your home it will sit, and you may end up getting less for your home than if you priced it realistically the first time.

Palo Alto real estate is precious. The inventory is at historic lows. The prices are now back to about what they were before the crash. So be smart and take advantage of this wonderful time to sell and price your home correctly.

If you have any questions about selling a home in Palo Alto please feel free to contact me.

Marcy Moyer
Keller Williams Realty
www.marcymoyer.com
marcy@marcymoyer.com
650-619-9285
D.R.E. 01191194