A few months ago I got a short sale listing and owner needed to sell it fast. It was a 1/1 55 + condo in Dania, FL. Nothing has sold there in over a year, but similar condos were listed in 140's, so this is where I had to start... Every week I was reducing price little by little because there were no showings or calls on the property after all of the marketing i have done untill... I reached a mark of 89.000! Calls started pouring in and within a week I got a cash offer and a contract on a property. Buyers thought that this price was a fair one according to todays market. Sure enough, when I was preparing a CMA of the latest sales in that area for a bank that's where prices were!
Sale of your home is one of the most important decisions you can ever make, especially if you need to sell it. Pricing the property right from the beginning will make a huge difference and save you a lot of time in today's market. Sellers need to stop being unrealistic and price property right, then it is going to be sold. Our job is to deliver the message. But boy, isn't it a hard one?