With more information about home sales publicly available, it's easier and easier to make assumptions about basic questions.
Why does the seller want to move?
How much do they owe on their home?
What is the minimum dollar amount that will get that home out of their hands?
Are they motivated?
Some you can guess, some you can't.
For instance, if a home has been on the market for some time, has the price been dropped?
If not, you may assume the sellers are locked down on a price and that's that. Or maybe it just means the listing agent has never recognized the need (or asked).
You see price drops, there may be a story. One drop? Recognition that SOMETHING needed to change to get the sale.
Multiple price drops? Seller wants to get it done, right??
But even then, I'm looking for a pattern in the price drops. Is there a set schedule apparent? We're only 2 days from what should be the next one? Maybe stall a bit?
But here's the bottom line. There's only ONE way to find out for sure what a seller will take. Write an offer and get to negotiating. Everything else is just a guess.
Need help buying or selling a home in Greater Cincinnati? Just give us a call at 513-520-5305.
Bill & Liz aka BLiz