Barb Schlinker The Real Estate Voice

How Does a Seller Know to Make a Price ReductionQ.  How Does a Seller Know When its Time to Make a Price Reductiono   It depends – Seller Motivation and Timingo   Sellers must keep in mind: Buyers worry about homes sitting on the market too longo   I have seen instances where it was not price but bad marketingo   Generally, these are some good signs a price change is needed:§  No Showings§  A reasonable amount of showings and no offersQ. What is this market like and how does a seller know if they are off-base in their pricing?o   On Fire under $400K – Biggest issue is bidding up over where an appraiser agrees it worth that much…Alpine Storyo   Above $400K competition increases with price increase.§  Examples: Jan home from $300 - $400 K·        153 new on market in Jan, 318 sold·        Cannot keep up with Inventory§  Homes from 400K – 500K·        197 new on market in Jan, 108 sold..55% selling or about 2 months of inventory – still a sellers market§  Homes from 500K – 600K·        137 new on market in Jan,