IS THE MARKET GOING UP OR IS IT GOING DOWN?
Here is my 2 cents on the market today. We have a true buyers market in every sense of the word. Too many sellers and not enough buyers. If you are a buyer, you are lucky. If you are a seller, you need a lot of help. You need to be in tuned to the market. You need to know every sold and every active that pops up, and you need it that day. You need to have some frank conversations with your Realtor about the price/condition and feature relationship the market sees for your home. And above all, you need to be flexible. Flexible to be willing to change the condition, and flexible to be willing to change the price.
When you list your home you need to listen to the market, and that means what is not said or done. Sellers may have not gotten too many negative comments on price, but in the end, when it is all said and done, looking back at it all, if a seller has a certain amount of showings and no offers, then its possible that price was the problem all along...even if people don't really come out and say it. Of course their home may be worth it on paper, but I've been in this boat with sellers before, and I have looked back and wondered if we wouldn't have sold it already if we would have made a price move earlier.
If after a certain amount of showings or a certain amount of time (generally 25 showings or 3 months), it is wise to take action and make some kind of move. Realtors can bring you the market, but the market will bring you the price (ultimately). If you don't want to be flexible on price in this market, YOU WILL NOT SELL YOUR HOME and you will be wasting everyone's time. The homes that adjust their prices will look more attractive and WILL SELL FIRST, period.
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