Hello Everyone,

 In this slower market many people are lowering the prices to attract buyers. The question is, does lowering the price bring buyers. The answer is tricky.

In a active market lowering the price can attract buyers in your price bracket, and lowering the price to a different price bracket will also bring new buyers. The difference is that lowering the price in your price bracket, say 200-225k will make your home more attractive to buyers who have probably already seen your home but didn't have much interest. The first filter is will the home work for them, the second filter is how attractive is the price. Changing prices int he same bracket only helps you attract people who made it past the first question and then were turned off by the price.

In a market where there are fewer buyers, you may reduce the price within your bracket and see nothing. In times when people may not be able to give up much, I wouldn't just suggest lowering the price to sell te home. If the lower price will attract buyers do it, but if more time is what is needed and you need to wait for new buyers to enter your price range, then reducing the price would be a waste. The only affect it has at that point is to change how attractive you are compared to your competition. If you are already attractive don't spend the money for nothing when all you need is to wait for more buyers.

Pricing can be tricky in this market, You should always hire a professional with a track record of selling homes in a tough market. If you or anyone you know needs the help of a professional call us 509-362-1966 and we can guide you through this market safely.