What part of "restructuring" don't sellers understand?
I have been seeing some reasonably priced listings recently but I'm still struck on open house days how many sellers (or their agents) haven't noticed that we're undergoing a restructuring, downward, of prices. I won't list specific addresses here (it tends to upset owners) but there are a lot of houses out there that will still be for sale in the Spring unless they drop their price substantially. A good indication that you've over-priced your house? 12 showings and no offers. If that happens, take out your meat axe.
1 year ago
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4 comments:
12 showings!!! You are completely off base on this one Chris. Not in this market. Also, you need to qualify it with some length of time that the house has been on the market.
By the way, I think the maps you started putting in the other day are slowing down your blog considerably.
I agree with you that the maps seem to be slowing things down and I'll be more judicious in my use of them.
I'm not sure that you're right about 12 showings w/o an offer being inadaquate to indicate a price reduction. I realize there are an awful lot of tire kickers out there who are reluctant to make a bid on anything, but somehow sellers have to spur them to take action. A lower price might do that.
Chris, I thought for a second that the anonymous writer may have been correct that you need to qualify the 12 showings with some length of time. After a few minutes, I would have to agree, it doesn't matter the time frame. If 12 people look at your home period and you don't get an offer even a low offer, the price is too high.
My thinking is that you either want to sell your house or you want to show your house. If the latter, take your time adjusting the price in the face of negative feedback (and receiving no offers is negative feedback). On the other hand, if you want to sell ....
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