The Dangers of Overpricing
An asking price that is beyond the Auburn-Opelika market price range can adversely affect the marketing of a property. Fewer buyers are attracted, and fewer offers received. Marketing time is prolonged, and initial marketing momentum is lost. The property attracts “lookers” and helps competing houses look better by comparison. If a property does sell above true market value, it may not appraise, and the buyers may not be able to secure a loan. The property may eventually sell below market value.