Your Home Value
Why is it that some homes sit on the market for a year while others sell like hot cakes? Frustrated sellers will blame a bad market, while a good real estate professional will tell you that many times, a slow sale is often attributed to the listing price. If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and better than the competition, it will have a better chance of being sold quickly.

1. When the real estate market slows down, and there are more sellers than buyers, homeowners can no longer dictate to the market what price their home will command.
2. It doesn't matter how much you paid for your home, or how much money you have in it after improvements, or how much you need to net after the sale.  The market determines the price, period! Because the real estate market is continually changing, and market fluctuations have an effect on property values, it's imperative to select your list price based on the most recent comparable sales in your neighborhood. A comparative market analysis provides the background data upon which to base your list-price decision.
3. If the figure that a homeowner is asking is way above market price then there will be little if any showings and no offers.  As the asking price approaches market value, showings will increase as will the probability of an offer. 
4. It's very important to price your home according to current market conditions. If a home is overpriced, buyers will stay away. But, if the price is competitive with similar homes in the area and "shows" better than the competition, it will have a better chance of being sold quickly.