More Than It's Worth | Take Me Home | Bend | The Source Weekly - Bend, Oregon

Coverage for Central Oregon, by Central Oregonians.
100% Local. No Paywalls.

The Source Weekly has been here for you, keeping you in the know throughout the coronavirus pandemic.

We’ve delivered important updates and dispatches from a summer of racial unrest.

We’ve interviewed dozens of state and local political candidates to help you make an informed decision during election season.

And we’ve brought you 22 years of important news and feature reporting—along with all the events, happenings, food, drink and outdoors coverage you’ve come to know and love. We’re a newspaper for Central Oregon, by Central Oregonians, and it is and always has been free for readers.

If you’ve appreciated our coverage, we invite you to spread the love and to join our growing membership program. Become a Source Insider today.

Support Us Here

Culture » Take Me Home

More Than It's Worth

The perils of overpricing your home

by

comment

Pretty much everyone in Bend is aware that we have a seller's real estate market. This often makes sellers price their homes for more than they are worth. While it is natural to want to get the maximum return on your home investment, it is very important to price it correctly.

In our current market, homes that are listed and priced correctly go very quickly, particularly in the lower and middle price ranges. Buyers know this as they see homes go pending shortly after coming on the market and often there are competing offers on homes. Putting a home on the market and pricing it correctly pretty much guarantees a quick sale due to our high demand and low supply and not because the home is underpriced. In fact, the possibility of competing offers may often result in above listing price offers.

A home that is overpriced loses the momentum of a new listing after sitting on the market and obtains a stigma for why it has not sold, even when the price is later reduced. Buyers working with agents see how long it is on the market. An overpriced listing just helps sell the competition and will not get shown because it is above the price range of buyers.

A good agent will be honest with you on the valuation of your home and provide comparative sales figures to support the price. Good agents will also let you know of any work that should be done to make the home more appealing to buyers so that you can get the best market price on your property.

Housing Roundup

LOW

20388 Rae Rd., Bend, OR 97702

2 beds, 2 baths, 1,367 square feet,

.29 acre lot | Built in 1971

$249,900

Listed by RE/MAX Key Properties

MID

170 NE Telima Ln., Bend, OR 97701

4 beds, 2.5 baths, 2,455 square feet,

.16 acre lot | Built in 2006

$339,900

Listed by Home Smart Central Realty

HIGH

815 NW Stonepine, Bend, OR 97701

4 beds, 3 baths, 3,296 square feet

.47 acre lot | Built in 1998

$969,000

Listed by Berkshire Hathaway Home Services

Photos and listing info from Central Oregon Multiple Listing Service

About The Author

Nick Nayne, Principal Broker

Principal Broker at The Broker Network Realty in Bend, OR. Over 12 years experience in Real Estate working with buyers, sellers and investment properties.

Add a comment

More by Nick Nayne, Principal Broker