Pricing a home for sale is very important specially in Buyer's market.
* Fair market value attracts buyers, overpricing never does.
* The first two weeks of marketing are crucial.
Fair market value is what a willing buyer and a willing seller agree by contract is a fair price for the home.
Values can be impacted by wide range of reasons but two main once are LOCATION and CONDITION.
Generally, fair market value can be determined by comparables - other similar homes that have sold or are currently for sale in the same area.
Sellers often view their homes as special which temps them to put a higher price on the home, believing they can always come down later, but that's a serious mistake.