5 Risks of Overpricing a Home in the San Diego Housing Market

Kim Ward, a real estate broker, specializes in assisting executors, administrators, and trustees with selling homes in probate or trust administration. She warns against the common mistake of overpricing a home, as many people believe their property is worth more than market value, often relying on inaccurate tools like Zillow. Instead, Kim recommends getting a professional appraisal or consulting a seasoned real estate agent to determine the true comparable value of the home.

Overpricing can lead to several issues, such as missing the key window of buyer interest, causing the property to sit on the market too long, and ultimately selling for less than its worth. Buyers and their agents may lose interest if they feel the price is too high, leading to fewer offers, the home appearing stale, and longer time on the market. Kim emphasizes that pricing a home correctly from the start is essential, as the market value is ultimately determined by what buyers are willing to pay.

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