An appropriately timed price adjustment can be the best move to make in many situations. In a declining market you must be both aggressive and cautious.
If your price reduction does not "get under the market" then you will find additional reductions necessary as you "chase the market."
This is to be avoided as you will repeatedly lower the price of your home, only to find that the market also fell below your new asking price.
If the adjustment is not big enough, the cycle will repeat! By the time you reduce again, you may find no opportunities to sell because the market has declined again at a similar or greater pace.
KeithMaki.com - Central MN Local Real Estate Expert.
Comments(0)