How much of my asking price should I project to get?
If you're considering selling your home you probably want to know how much you're going to get from the sale. On average to sellers get less than their asking price or more than their asking price?
A recent article by CNN Money stated that Santa Barbara California was the top city in the US that received 32% over asking price. Then it drops to 22% in Marin California and finally, in places like New Jersey, New York, and Pennsylvania, sellers are actually getting their asking price.
Several Oregon states made the list as well and while this is just general on the median asking price versus the median list price it does give you an idea of how to price your home and what you could expect from it.
Now, this is not to say that just because you're selling a home in the Palm Desert area you're bound to get less for your home but it does pose an interesting negotiation and pricing strategy when valuing your home or property. It really takes the know-how of a qualified real estate agent that not only knows the market but knows the micro-communities and neighborhoods as well. By pricing it correctly, getting it in front of potential buyers immediately and consistently, you have more of a chance of getting your asking price.
Rents are increasing throughout the Palm Desert and Palm Springs area and as we become more and more popular with those moving in from out of state, prices will continue to rise and more and more sellers will get their asking price if not over their asking price.
For more information on the Palm Desert real estate market or to price your home please give us a call at any time.