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Follow on Google News | ![]() Real Estate Expert Kyle Algeo Warns Sellers of Overpricing Homes in San Francisco MarketKyle Algeo, an expert in the San Francisco real estate market, shares why sellers should avoid overpricing their homes.
By: Kyle Algeo “At the beginning of the year, it was not unlikely to have seven or more offers come in for the same property within weeks of it entering the marketplace,” According to numbers published by Internet Real Estate site Trulia, the median price for homes in San Francisco rose over 14 percent year over year for the months of August, September and October. In pure money terms, that means prices rose an average of one hundred and twenty-five thousand dollars for a home. While that statistic sounds good, there are other key figures to consider when judging what price a seller should initially set upon entering the market. According to the most recent report published by Trullio, the average price per square foot is down only about 3.4 percent however the number of homes sold year over year is down more than 22 percent. https://www.pinterest.com/ “This is critical information that sellers need to stay aware of,” confirmed Algeo. “Everyone wants to get top dollar for the sale of their home.” Algeo continued to explain, “However, reducing the asking price a little when the home first goes on the market will often generate multiple offers which, in turn, can create a bidding war and often result in a final selling price even greater than what was originally thought. http://kylealgeo.org/ Kyle Algeo, as an expert in the field of residential real estate in San Francisco, knows that these findings will help buyers in the upcoming year as they start to see the market stabilize on their behalf. Additionally, this knowledge will help sellers make insightful choices about when and how to sell their property. http://kylealgeo.com End
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