BusinessWeek Talks Lowering Home Prices

It seems that the national media is finally catching on. There are buyers out there who want to make a deal happen, but the reality is that they just aren’t going to do it at the same price points as before the market corrected. BusinessWeek’s article, “Want to Sell Your Home? Lower Your Price” is a decent article on the necessity of price drops in a competitive market; however, they do underplay the importance of properly pricing your home to begin with. While it is true that when you drop your asking price below a threshold number, there is an increase in activity on it; but the best chance of exposure a seller has is when their property is new to market. It seems to me that BusinessWeek underplayed this a bit.