The Greatest Amount of Home Buyer Interest is in the first Month.
Problems with Overpricing Effects:
Will Not attract as many buyers because they’ll think it’s out of their price range.
Sit there and Take longer to sell, incur additional holding costs, more taxes, mortgage payments, lawn & utility maintenance.
Overpricing helps make competing properties look better than they really are.
Become “shopworn.” (Oh, that property is STILL on the market, didn’t we look at that 7 months ago?)
Looks to be overpriced in absolutely everyone’s minds (agents and buyers) and they tend not to forget sadly.
Makes you to lose valuable time and miss out / prevents you from buying your dream home.
Creates lots of advertising dollars and time-expensive marketing efforts to be wasted.
Delays negotiations to a stand still.
Will appraisal problems when it does eventually go under contract.
You will more than likely end up selling below fair market value in order to make up for all of the above.