August 18th, 2010 1:46 PM by Wendy Thomas
This is a difficult question to answer, in the real estate market that we're currently in. With competing sales including some foreclosures and short sales, which have sold under what the houses would normally have sold for, it's becoming more and more typical for houses to appraise for less than the sales price.
This makes it more important than ever to make sure that you have a Realtor who can do the appropriate research, and can help you price your house correctly. In this market, it's important to price it right from the start; that way, you won't be fighting the market and end up on the market for a longer period of time than necessary. I'm not saying give the house away; just make sure that you have enough facts to base your pricing decision on.
Our Allen Tate blog just had a good article about the Charlotte area in general. You can read it at http://athome.allentate.com/2010/08/price-your-home-correctly/.
If you have any specific questions, or you would like a market analysis on your house, please call or email me. PLEASE KEEP IN MIND that if you are in the market for a new home, yes, you may have to sell your house for less than you would have several years ago, but this will play in your favor when you purchase your new house-- you'll sell a little lower in this market, but you'll also buy a little lower!