Quote:
Originally Posted by semlin
and as a scientist, you know absolutely nothing about selling homes to nebraskans  if you leave your price high, you attract less offers which means that anyone who eventually does make an offer will feel free to lowball you anyway. thus your asking price is meaningless.
there is a lot of weird psychology and variables that goes into selling houses. part of it is about creating excitement in buyers with a new listing and a fear of losing the house. if you want to sell right away, you need to drop the price enough to create a stir in people who haven't seen it before, and thus to bring anyone who has been looking at it for a while waiting for a price drop out of the woodwork.
if you don't mind waiting another year then, given how dead the market has been, I would leave it off the market and wait to see how the market unfolds. typically the housing market heats up in the spring and peaks in early summer because that is when people with school age kids prefer to relocate. by early summer people with kids who want to buy a house that year and get relocated before school starts in september are starting to panic if they have not found what they want. therefore, wait until early june to list. |
Agreed. If you're priced too high, buyers will not even bother to look and then lowball.
We listed at 389K, had a full price offer, they backed out. We relisted at 399K, crickets. We dropped the price to 379K, traffic picked up, two offers; one at 379K within a day.
Consider the asset will likely continue to depreciate and you'll need to keep paying taxes, insurance and maintenance. Compare that to the return on other investments. What's your opportunity costs when having the equity sit there and decline?
[/unsolicited advice][/buttingintoyourbusiness]