Peter Mohylsky (PMI. Destin)

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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

If the homes are overpriced it is not too early to reduce.

Many markets are shifting, including mine. It seems like it happened overnight but it really didn't.  Patience is required.  It is taking a lot longer for homes to sell. 

Oct 06, 2022 11:04 AM
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Six days for a price change is too soon. It signals not only that the seller is motivated but that the first price was too high. Pricing at or higher than the last comp in this market is not a good strategy.

Oct 06, 2022 12:16 PM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It's never too soon to reduce, Peter. It's more of a challenge to find yourself chasing the market.

Oct 06, 2022 10:07 PM
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Anna Banana Kruchten Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

If it were in my market it would be a market shift.  Reducing price may help as well as making sure all has been done by seller to make the house 'stand out' in the market as well as top notch professional photos etc.

Oct 06, 2022 03:09 PM
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Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

It's never too late for a price reduction if you have a motivated seller!

Oct 06, 2022 11:53 AM
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Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

After 2 weeks consider lowering the price.

Oct 06, 2022 11:45 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

What is the average days on market in your area? Has it increased recently? Have you looked at your marketing and the photographs? Are these properties popular in your area? What are the seller circumstances? Will they give you permission to promote the price reduction as seller is motivated for a quick sale? Cook the stew to see what you are offering for a meal! Good luck!

Oct 07, 2022 03:56 AM
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Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

You know your market, this pair of listings Peter Mohylsky . Ask a local hair dresser, random people at the Piggly Wiggly you bump into and they have lots of advice on why still for sale after only 6 DOM.

Oct 06, 2022 10:39 AM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker
Oct 06, 2022 10:21 AM
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Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

First I want to see the photographs and advise how to retake or reorder.

Open house for both this weekend big social media blitz, balloons, 30 direction signs for each,  full search lights...

You are far from Ian's path but I think the hurricane layered with rates is part of the little interest.

Are they priced too high to start? If so do not tick away a tiny $1000 reductions

Your link from your google site goes to a dud. I tried to lookup the listings also Realtor.com only shows solds not actives peter

here:

Oct 06, 2022 10:16 AM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Has anything gone on in your market to reduce the buyer pool temporarily?  Graduations absolutely killed our market out here for 3 weeks.  Then there were start of summer festivals.  Another 2 weeks.  Was a brutal June.

 

If there was nothing, it's the price.  If there was something, it may still be the price but likely was the thing.

Oct 07, 2022 03:48 AM
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Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

To me, a price reduction after six days screams "Desperate" or "Overpriced". Are the properties staged, good curb appeal, professional photos, broker open and open house scheduled? If yes to all, time to ramp up your marketing campaign and get some showings to provide feedback about price, condition, etc.

 

Oct 06, 2022 09:07 PM
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

"A little interest in one" - what were they interested in?

Price reductions should be the last thing people do especially if/when financing is advised, there are better ways to entice and benefit buyers, but it depends what they're interested in, and why, if interested, are they not viewing the home?

Oct 06, 2022 04:09 PM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

If property was priced properly, 6 days is too soon. Sounds like door number two is not getting any action, but it may not be just the price. Too little information for any reasonable advice.

Oct 06, 2022 02:19 PM
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Roy Kelley
Retired - Gaithersburg, MD

If the prices are above the market, reduce them. 

Oct 06, 2022 01:31 PM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I don't know anything about your market Peter Mohylsky but hereI rarely took action until a property had been on the market for two weeks. After two weeks I encouraged the Seller to sit at the table with me and brainstorm. Often we would go through the checklist we made at the signing of the listing agreement. Things like: improve the curb appeal, declutter, touch up the paint here and there, etc etc.

Oct 06, 2022 12:52 PM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

That depends on whether you thought the homes were over-priced to start with. If they were, lower the price and don't waste more days on market. If you really believe the price is right give it two weeks to see how much traction those properties get. If they don't get traction, then adjust the price.

Oct 07, 2022 04:24 AM
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Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

I use the drip approach from the day the listing is being discussed letting the homeowner know that the market will let us know if there needs to be a price adjustment.  Each update or contact with the seller includes feedback on what the buyers and their agent say about the pricing.  I let them know that no  kind of marketing will get a house sold above what the market will bare and if the price isn't adjusted the listing will become stale and won't be shown.  It works.

Oct 06, 2022 08:05 PM
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

To soon for price reduction but after 2 weeks, should do.

 

Oct 06, 2022 01:45 PM
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Eileen Burns
Trans State Commercial RE Ft. Lauderdale/Miami/Palm Beach - Fort Lauderdale, FL
FLorida Real Estate Connector

What does the monthly market trend report say about days on market, closed sales, inventory and so forth

Oct 09, 2022 08:43 AM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

Once upon a time I had a seller who didn't take an offer of $165,000 for a lot. She then proceeded to chase the market down until she sold it for $50,000. Be a leader, not a chaser.

Oct 07, 2022 07:18 AM
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Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Seriously? It's only 6 days.

Oct 07, 2022 06:44 AM
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

The first week tells it all and that is why all homework (pun) must be done before hand, carefully considered and then launched with confidence. Doing less than that produces an opposite effect where doubt and price reductions lurk in the shadows. I like to go market or below and stand with confidence. To your question, 6 day changes reveal much to the public and buyers all NOT IN YOUR FAVOR. Tweek the marketing & up first impression

Oct 07, 2022 06:24 AM