Four Reasons to Reduce the Sale Price of your Home, and the Warning Signs that you Should!
By:Vicki Holton-Kirk Holton Team
Many sellers feel that in the present economy, a price reduction won’t make a difference. If the folks out there aren’t buying, then they aren’t buying, this is a familiar attitude. Here are some signs that a seller SHOULD reduce the price. Maybe these signs will make sense to you. If you are selling your home, and it has been on the market for awhile, please take note.
1 )You have had very few lookers:
This is a very good sign that either the price is too high, the pictures are not enticing, or the home is not a good “drive by.”
Ask your agent for her candid opinion on these issues.
2) You have had lots of lookers but no offers:
If 30 or more people have viewed the home on appointments with agents, and not made an offer, then your price is definitely too high.
3) You can’t make upgrades:
If you have run out of available cash for paint, clean up, repairs, etc., or if your home is at the same price point but not in as good shape as the other comps in your neighborhood, then buyers will expect you to make the home a bargain by reducing the price.
4) The competition has changed:
If your home has been on the market through the winter, with no offers, and new homes, similar to yours come on the market at a better price, then your price needs to be adjusted accordingly.
If any of these signs speak to your situation…maybe it’s time to think about a price reduction!