All Dressed up and No Buyers to Show!

I agree. The problem is when the price bottoms out lower than what they paid for it or they owe more on it than what its worth. Very tricky then.

And, even when we drop the prices - everyone wants to offer 25% less than asking price anyway!

Its the story of everything will sell and its all about the price.  When even an agent doesn't know how to price for the market due to the market shift, it makes it easier to understand the reluctance of a regular homeowner sellers not pricing for the market.  These shifting markets are rapid and hard to get a grip on for many folks, realtors and JohnQPublic.

Sally,

Price sells houses, that is for sure!

Christopher Pike

Price, price, price instead of location, location, locatoin right?! :)

Sorry to the seller here.  It is a sad state of affairs when you have to hand all of you equity over to a stranger in order to accept a better job elsewhere.

Gotta agree with Rich Shuman. When it's priced right, they still want it for less.

Thanks

Rich

Charlotte

I think a good agent cannot tell you what a home will sell for but they can tell you what it won't sell for after being fully exposed to the market for 30 days.  No showings in and of itself is market feedback.  You missed the mark.  Few showings with no offers is market feedback.  When you continue to reduce it every 30 days as your smart friend did, offers she hit the spot where she effected the market.

This is a great lesson when listing other homes.  Have sellers agree in advance to a price reduction strategy every 30 days and have them sign it on the listing agreement.  When the magic date appears you reduce it automatically and mail them a notice that it has been done as agreed.