SIGN UP LOGIN

Articles Tagged "overpriced homes"

Old Dominion Realty Blog Home

Subscribe and receive email notifications of new blog posts.




rss logo RSS Feed
Augusta County | 13 Posts
Bridgewater, VA | 1 Posts
Burlington WV | 1 Posts
Buy a Farm | 3 Posts
Buy a Home | 30 Posts
Buying a Condo | 2 Posts
Buying a House | 30 Posts
Curb Appeal | 1 Posts
Franklin WV | 1 Posts
Grottoes VA | 1 Posts
Hardy County | 3 Posts
Harrisonburg VA | 45 Posts
Home Buyers | 2 Posts
Home Improvement | 24 Posts
Home Insurance | 1 Posts
Home Value | 2 Posts
Homeownership | 6 Posts
LeadingRE | 2 Posts
Lost River, WV | 1 Posts
Luray, VA | 4 Posts
Monterey VA | 1 Posts
Moorefield WV | 7 Posts
Moving Tips | 5 Posts
Myers Corner | 1 Posts
Open Houses | 3 Posts
Petersburg, WV | 4 Posts
Sell a Home | 52 Posts
Staunton VA | 23 Posts
Waynesboro, VA | 2 Posts
real estate | fiscal cliff | real estate market | housing industry | Old Dominion Realty | Virginia Subdivisions | Old Dominion Realty Subdivisions | Ginny Joseph | Mill View Estates | Crossroads Farm | Magnolia Ridge | Gail Mitchell | Harrisonburg Subdivisions | The Springs at Osceola | Bea Miller | Courtney Crummett | staunton virginia | West Virginia | West Virginia real estate | Bridgewater Virginia real estate | Waynesboro Virginia real estate | Rockingham County Virginia real estate | title insurance | architecture | Shenandoah Valley | home owners insurance | home maintenance | government shutdown | foreclosure | overpriced homes | home safety | energy efficient homes | foreclosures | real estate career | real estate class | real estate license | find a home | buy a home | property search | homes for sale | sell a home | sell my home | selling a home | landscaping | kitchen | ktichen | home staging | staging a home | vacation home | second home | Springs Lakes | Tim Armentrout | subdivision | moving with pets | moving with kids | Shady Creek Homes | Grottoes VA | Harrisonburg | Harrisonburg VA | things to do | moving to Harrisonburg | living in Harrisonburg | Ana Marie Estates | Lillian Boutros | become a real estate agent | buying a home | buy a house | build a house | relocation | Leading RE | Staunton | Staunton VA | Staunton Virginia | living in Staunton | moving to Staunton | Betty Reese | Community Association Management | sales incentive | Charlottesville | Charlottesville VA | Charlottesville Virginia | selling a house | home security | home security tips | Rockingham County | Rockingham County Public Schools | top rated schools | home buyers | home sellers | technology | customer service | community events | area information | Augusta County | fall maintenance | home improvement | green living | schools | school districts | Harrisonburg restaurants | home buyer preferences | become a real estate agent | become a realtor | join old dominion realty | home saving tips | energy saving | Real Estate Agents | REALTORS | John Bowman | Ward Team | Brian Ratliff | Barry Pugh | Karen Rodgers | Charitable Organizations | Associate Brokers | Renee Whitmore | Travis Bowman | Micah Branson | Pam Estes | real estate agents | REALTORS | Julie Slayton | Alicia Farmer | Jennifer Cline | Casey Nelson | house for sale | home for sale | home cleaning tips | Forbes Center Performing Arts | James Madison University | Realtors in Harrisonburg | Augusta Expo Home & Garden Show | sell a house | first-time home buyers | farmland | farm property | agricultural land | farmland | farm | agricultural property | buying farmland | Sell a House | Downsizing | buying a house | home selling tips | curb appeal | home value | homeowner tips | moving tips | open house | Vicky Harrison | Condos for Sale | Sharon Wood | As Is House | Shady Creek Townhomes | Cedar Point Townhomes | Waynesboro | Down Payment | Financing | Mortgage | Home loan | Loan | Pre-approval process | Moorefield WV | Franklin WV | Hardy County | Grant County | Pendleton County | Holidays | Area attractions | Local Businesses | FSBO | Charlie Ward | Neighborhoods | Subdivisions | Best Neighborhood | Professional photography | List a Home | Festivals | Family fun | Community information | Local information | Hardy County Public Library | Home renovation | Spring | Declutter | Pack | Move | Purge | Page County | Woodstock VA | Music and Entertainment | Colby Shifflett | College Park | Bryce Resort | Edinburg | Grottoes | Mount Jackson | Timberville | Woodstock | Bridgewater | Elkton | New Market | Shenandoah County | Broadway | Dayton | Fort Valley | Luray | Weyers Cave | Franklin | Lost River | Petersburg | Garden | outdoors | summer | pets | decor | interior design
November
14

Selling a house can be challenging, especially if for sellers that are new to the real estate world and have never before attempted to list a property. These sellers may be tempted to price a home high and try to get as much for it as they can. Unfortunately, there are many problems that can result from overpriced homes, for both the seller and the general market.
Overpriced image

Time Investment

Those that are selling a home and list it too high will find that it may linger on the market, which drags out the selling process. The longer a house is for sale, the more time must be invested with showings, cleanings, and negotiations with potential buyers. This also means that a home will lose out on the newness factor that often helps property on the market get sold.

Less Chance Of A High Final Sell Price

Overpriced homes do not generate as much interest in the market as similar homes that are priced reasonably. For this reason, they tend to stay on the market longer. The longer a home is on the market, the further down the price will go. This means that people that price their home too high initially will often wind up getting below market value because the house has been listed for such a long period of time.

Impact On Local Markets

If several houses in a single area are listed for sale for a price that is too high, it may cause issues for the housing market in a given region. The combined effect of many overpriced homes can lead to the creation of a bubble in that market. While overpriced homes may lead to more profits up front, they are not good for the future and long-term sustainability of the market. After buying a new home for a high price based on the profits they made from the sale of an overpriced house, some sellers may find that the next place they move to goes down in value. When this happens on a widespread basis, it has serious economic repercussions.

Pricing a home can be a tricky challenge. For those that are selling a place in the Virginia or West Virginia area, the seasoned team at Old Dominion Realty is readily available to help. The experts at Old Dominion will keep any property from becoming one of the overpriced homes in its market.

Login to My Homefinder

Login to My Homefinder