Well, I guess that depends on how quickly you want to sell your property doesn’t it?
Can you afford to sell it now?
Can you afford NOT to sell it now?
The thing is, the market is a little saturated right now and another property for sale, that is just not priced right, is going to get lost amongst the masses.
It’s really not worth your time or your agent’s time, for that matter, the overall health of the market to list a property that is priced too high. It just won’t sell. Not now, not next month, maybe not even next year.
So, if you don’t need to sell and are not going to price your property correctly to begin with, you are much better off waiting until the seas of price once again flow in an upward motion.
On the other hand, if you need/want to sell and time is of the essence, then price it right and it will sell!
How do you price it right? Well, you ask your agent to do a Comparititve Market Analysis and to show you the Facts and Trends pertaining to your area. You’ll see how other properties are priced (your competition) and what similar properties sold for (the mortgage company’s yard stick). Keeping both active and sold properties in mind, price yours realistically (in this market, be the least expensive), and you’ll have an advantage.
The result: your listing gets sold quicker. And quicker is better. Because, the best price you will get will be today. The clock is ticking and time is money and so don’t wait.