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Old 12-03-2014, 08:01 AM
 
Location: Connectucut shore but on a hill
2,617 posts, read 7,000,435 times
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I've been following Utah and Salt Lake City MLS listings for the last year with intent to relocate there in the near future. It seems to be a very common local practice to reduce the price every month, or even every couple weeks, and often by tiny increments.

Sometimes these are "real" price reductions, say $50k, indicating that the house was way overpriced. Example: a house originally listed at $465K ends up at $415k 4 months later after a series of $6150 price reduction every couple weeks. But in a great many cases the reductions are as little as $100. Yes, one hundred dollars. Such pricing histories are not unusual at all.

What are these sellers &/or brokers smoking? It's obviously a deliberate strategy. Stuff like this is completely unknown where I am.
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Old 12-03-2014, 08:30 AM
 
Location: Brentwood, Tennessee
49,932 posts, read 59,693,231 times
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Unfortunately some inexperienced agents do this as a way to reboot their listings as "new" and keep them on the radar of buyers.

It's a bad strategy.
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