When Should Sacramento Home Sellers Reduce the Price?

By
Real Estate Agent with Lyon Real Estate BRE #00697006

When I first got into real estate, in the 1970s, we were taught to never do a price reduction on a home. Because once you reduce, buyers wonder how much further you will go. In some ways, I still follow that format. However, real estate in 2018, particularly where I sell in Sacramento, is a lot more fluid, transformative and constantly evolving than the markets of the 1970s. I have come to learn over the years that cookie-cutter answers to standard questions are not always the best solution in certain situations.

In other words, the distance traveled from Point A, which is taking the listing, to Point B, which is closing the sale, is not always in a straight line. Fellow Active Rainer Beth Atalay from Florida has inspired me to dig deeper into this question. You can read more in my personal blog today on this subject at this link: When Is It Time to Reduce the Price of Your Sacramento Home?

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Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
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California Sacramento County Sacramento
Groups:
Everything California
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CALIFORNIA REAL ESTATE
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Tags:
overpriced listings
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time to reduce the price
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Rainmaker
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Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, great post today, and have to say, it does all depend on the property in my market.   I have had a couple properties that did not garner offers in the first weekend, and had to look closely at the market and determine what the next step would be to get it sold.

Jun 07, 2018 07:24 AM #1
Rainmaker
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Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Joan Cox Yes, even in our respective hot seller's markets, all real estate is hyper local. Part of our job is to figure out why offers are not pouring in when other homes are selling. It's not always an obvious thing, either.

Jun 07, 2018 11:12 AM #2
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Rainmaker
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