WHEN SHOULD YOU LOWER YOUR ASKING PRICE?

By
Real Estate Agent with ERA Belsito and Associates

Your house has been on the market for weeks. Despite numerous ads, open houses and showings there were no offers. Now you are considering a price reduction. You want to get as much as you can Visit www.SamanthaNichols.com for more detailsfor your home, but more important, you want it to sell!

This is the time to have a frank discussion with your REALTOR®. While price may be a major factor, it may not be the only consideration. Are you making your house easy for agents to show? Have you completed the necessary maintenance and cleaning so that your property is as appealing as possible? 

Review with your agent the current market conditions, the prices of other homes currently on the market and most recent sales in your neighborhood to accurately determine that a price reduction is in order and what your new pricing should be. 

The marketplace may be telling you that buyers just won't pay what you are asking. If all indicators point to a price reduction, it is better to do it sooner rather than later. Remember, your goal is to SELL!

Visit www.SamanthaNichols.com for more details

For a professional real estate consultation with a friendly approach based on honesty, integrity and positive results, please contact Samantha Nichols direct at 508-726-1870 or email at Sam@SamanthaNichols.com. ERA Belsito and Associates is conveniently located at 100 Court Street in Historic Downtown Plymouth, MA 02360.

  • For information regarding Massachusetts and the oceanfront community of Plymouth MA, visit Plymouth MA Real Estate.
  • To search the MLS for homes, condos, land, multi family & commercial properties and view full listing sheets with property addresses, sign up with no obligation at my MLS information access site.

I provide services in the following South Shore and Cape Cod MA towns: Bourne, Carver, Cohasset, Duxbury, Freetown, Halifax, Hanson, Hingham, Hull, Kingston, Lakeville, Marion, Marshfield, Middleboro, Pembroke, Plymouth, Plympton, Raynham, Rochester, Rockland, Sandwich, Scituate, Taunton and Wareham.

Click here to view local Plymouth, South Shore & Cape Cod MA information.

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Rainmaker
122,426
Kent Dills
Broker, Dills Real Estate - Bellingham, WA
Real Estate 817-495-8028, Bellingham, Washington

Samantha,

You're 100% dead on.  If cleanliness, material conditon, ease of setting appointments, etc. all stay the same, and you've had open houses, plenty of showings, etc., and no offers...guess what?  YOU NEED TO LOWER THE PRICE!

Kent 

Feb 26, 2009 08:11 PM #1
Rainmaker
910,568
Bill Gassett
RE/MAX Executive Realty - Hopkinton, MA
Metrowest Massachusetts Real Estate

Hi Sam - It would probably depend somewhat on the average days on the market for the area and the absorption rate. Of course if the home was priced wrong right out of the gate and nobody is looking at it I would say immediately:)

Feb 27, 2009 07:01 AM #2
Rainer
182,709
John Lake
Shamrock Financial - Mashpee, MA
Cape Cod Mortgage Banker

Samantha,

In addition to the properties condition and marketability there are some external lending factors that are having adverse effects to market value. As a Realtor I invite you to visit my blog where I post all of the latest changes to lending guidelines.

 Active Rain is a great place to share your knowledge, expertise and thoughts, as well as network and learn so much from the vast pool of talent already on board.

I much success in 2010!

Feb 22, 2010 04:26 PM #3
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Rainmaker
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Samantha Nichols

Massachusetts Real Estate Specialist
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