3,349,404
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.
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Gary Frimann, CRS, GRI...
Gilroy, CA
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Nina Hollander, Broker
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
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Diana Dahlberg
Pleasant Prairie, WI
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Fred Griffin Florida R...
Tallahassee, FL
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Kathleen Daniels, Prob...
San Jose, CA
1,323,044
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.
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Nina Hollander, Broker
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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Peter Mohylsky, Beach ...
Miramar Beach, FL
5,254,035
It's never too soon to reduce, Peter. It's more of a challenge to find yourself chasing the market.
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Debe Maxwell, CRS
Charlotte, NC
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Eileen Burns 954.483.3912
Fort Lauderdale, FL
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Lyn Sims
Schaumburg, IL
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Diana Zaccaro Broker A...
Cocoa Beach, FL
3,589,741
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.
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Eileen Burns 954.483.3912
Fort Lauderdale, FL
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Nina Hollander, Broker
Charlotte, NC
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
679,404
It's never too late for a price reduction if you have a motivated seller!
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Lyn Sims
Schaumburg, IL
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Karen Climer
Orlando, FL
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John Juarez
Fremont, CA
906,197
After 2 weeks consider lowering the price.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Bob "RealMan" Timm
Minot, ND
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John Juarez
Fremont, CA
5,239,029
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!
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Debe Maxwell, CRS
Charlotte, NC
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Eileen Burns 954.483.3912
Fort Lauderdale, FL
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
2,245,675
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.
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Diana Dahlberg
Pleasant Prairie, WI
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Carol Williams
Wenatchee, WA
2,684,569
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
420,003
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
here:
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Debe Maxwell, CRS
Charlotte, NC
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John Juarez
Fremont, CA
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Kathleen Daniels, Prob...
San Jose, CA
1,506,013
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.
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Debe Maxwell, CRS
Charlotte, NC
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
1,092,947
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.
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
1,078,091
"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?
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Bob "RealMan" Timm
Minot, ND
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
902,038
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.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
7,863,209
If the prices are above the market, reduce them.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Anna "Banana" Kruchten
Phoenix, AZ
2,400,161
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.
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
5,112,471
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.
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Diana Zaccaro Broker A...
Cocoa Beach, FL
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Bob "RealMan" Timm
Minot, ND
766,079
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.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
4,960,530
To soon for price reduction but after 2 weeks, should do.
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Bob "RealMan" Timm
Minot, ND
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Debe Maxwell, CRS
Charlotte, NC
834,530
What does the monthly market trend report say about days on market, closed sales, inventory and so forth
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Debe Maxwell, CRS
Charlotte, NC
3,167,614
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.
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Debe Maxwell, CRS
Charlotte, NC
1,846,901
2,784,566
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
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Bob "RealMan" Timm
Minot, ND