Your reasons for selling and how long you can wait will be an important part of your decisions on pricing your home. The value of your home is almost entirely dependent on what someone is willing to pay for it and how long you are willing to wait to find that person. Most sellers are not in the position to wait for the "ideal" buyer who will pay their "ideal" price. They want to find the optimum price at which their home will sell in a limited amount of time.
Typically, the most interest is generated in the first few weeks a home is listed. If you want to sell your home fast, you'll want to price it so that it stands out from your competition and comparable homes on the market. If you are willing to wait and to endure continuous showings, you can afford to price it above the competition. Sellers who try to hold out for the highest price, however, may find themselves reducing the price down the line. A house that has been on the market beyond the average marketing time generates little interest from buyers, even when the price is reduced dramatically. Most buyers will assume that the home has problems that they, understandably, want to avoid.
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