Help with my pricing strategy
Hi, I would love your input on pricing my home. I live in a suburb of Columbus, Ohio (New Albany, OH) in a neighborhood that has faired pretty well up to this point in the housing crisis. There are 500 homes in our neighborhood and 7 on the market now. Probably will be 30ish in spring/summer. Nieghborhood is suoght after in normal market. I have a open floor plan ranch that (the ranch) is a rarity in my neighborhood. 1 year ago I had a realtor knock on my door saying would I consider listing, as he had multiple offers on a ranch he listed down the street and left over buyers looking for ranch homes in my development. That said, the market is so different now.
I am listing flat fee MLS next week. Currently there is one other ranch for sale in my neighborhood (very strange, as only 2 sold last year) that is the same floor plan as mine but is 5 years older and pretty outdated..I have no doubt mine will show much better . They have an extra 1/2 bath and a Florida room. They are listed at 345,900 with a realtor and I think they are too high...they have been on the market 5 months and come down 15k. House is now empty.
I spoke with the realtor who sold me my house 3.5 years ago for 310k and they did comps and said I should "list at 339k (with them) and see what happens". My gut reaction was that was too high. Honestly, I think I would be very lucky to get 310k for it in this market.
Sorry for the long story, but what price would you suggest listing at (I can be flexible and stay there through summer) and how does having the other ranch on the market affect my strategy?
Thanks very much..you all are a wealth of information. I will post pics soon. Varoious realtors have come through and said it shows very well and they wouldn't change anything.