Today we present an article about price reduction when selling a home. Do you know when is the time ripe for a price reduction? This is an article written by Elizabeth for another publication. Enjoy. –JaCi
My feeling is sellers should price a home right at the get-go and forget about “testing” the market. Those who test the market often end up selling for a lot less after a price reduction than they might have received had they priced it right from the beginning.
Testing the market works only if you get list price. If you don’t get list price within a reasonable period of time, quite frankly, you’re hosed. Because once buyers see a price reduction, they immediately begin to wonder how much lower you will go. It’s just human nature. Is the time ripe for a price reduction on your property?