An unwritten rule in real estate

Okay, I'll write it. "The best deal in the neighborhood will sell first".

A home with lots of upgrades, a decent location, priced below the comparable listings will go under contract before anyone else. Case in point, 10564 SOUTH PEARLWOOD CIRCLE, a Berkely Apex model on an interior lot with granite slab countertops, hardwood floors, professional decorations, and many more upgrades was listed for $308,000 on March 10. It went under contract in just 5 days.

This model should sell for $315,000 or more, but when a similar listing undercuts the competition on price, it'll sell first everytime. Not only that, but the sale price will bring down the comparable sales prices for the entire neighborhood. In other words, if you are on the market right now or about to go on the market, check your price carefully among the competition and then answer the question, just how bad do you want to sell?

Keep this in mind too, you may sell your home now for less than you would in a "sellers market", but if you are moving up into a larger more expensive home, you'll reap the benefit of buying for a lower price too. 5% off a $300,000 home is less than 5% off a $350,000 home so you'll come out ahead in the long run.