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Hmmm... 3 weeks... I would have waited another, but it wouldn't send a red flag to me as a buyer.
I'm more perplexed by the amount. $7K puts them at $378K. I would have cut it $10K (at minimum) because $375K, being a nice, round number, is probably a max search for potential buyers. Dropping if from 385 to 378 probably didn't add the home to many buyer's search parameters.
The drop of 7K shows intent. "We are intent on selling the house and will float down the price until it is desirable." It works with buyers who pay more attention to thinking they are getting a good deal than to those looking at value. Those buyers think, "The sellers are becoming desperate and dropping the price, now we can get a good deal!"
The ads that are really bizarre show a price drop of $500 for example. Just enough to bump them onto the list of houses that have dropped in price and to put them in front of buyers again.
The drop of 7K shows intent. "We are intent on selling the house and will float down the price until it is desirable." It works with buyers who pay more attention to thinking they are getting a good deal than to those looking at value. Those buyers think, "The sellers are becoming desperate and dropping the price, now we can get a good deal!"
The ads that are really bizarre show a price drop of $500 for example. Just enough to bump them onto the list of houses that have dropped in price and to put them in front of buyers again.
Yes, it shows intent, but being so close to that 375 number, I would have just went there to hopefully capture new eyes.
The few hundred dollar drops are ridiculous. Inventory is super low here. While I was looking over the winter, there was one of those houses. They'd drop the price about once a month by a few hundred dollars. Never even by 1% of the asking price. It took a full year to sell. It was over priced to begin with. It did sell for 85% of the original list price. Had they made some real price drops, or priced it right from the beginning, it would have been gone quickly like everything else around here.
The drop of 7K shows intent. "We are intent on selling the house and will float down the price until it is desirable." It works with buyers who pay more attention to thinking they are getting a good deal than to those looking at value. Those buyers think, "The sellers are becoming desperate and dropping the price, now we can get a good deal!"
The ads that are really bizarre show a price drop of $500 for example. Just enough to bump them onto the list of houses that have dropped in price and to put them in front of buyers again.
Yes, if we do another drop, we'll make sure it lands in another price bracket. Say a prayer for us!!
Yes, if we do another drop, we'll make sure it lands in another price bracket.
I haven't been following the progressions but...
have you learned what the previous lookers thought?
Both about the price and your house and your house vs their other options?
Assuming they were actually qualified and interested in the area...
in a busy sellers market one of them should have made an offer of some sort
(even if at a price that you might think is a low ball).
The other home that the OP showed with the same cabinets has been on the market now for nearly 2 months with a drop of $20,000 after only 10 days on the market.
...but I'm thinking a robust price drop will garner interest. Don't get discouraged.
Aren't those two thoughts at odds with each other?
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It's not that big of a community.
Odds are that every qualified who WANT's to buy now has passed it over.
The next wave of lookers probably won't be in until after the kids are settled in at school.
Aren't those two thoughts at odds with each other?
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It's not that big of a community.
Odds are that every qualified who WANT's to buy now has passed it over.
The next wave of lookers probably won't be in until after the kids are settled in at school.
As a recent seller--it can be discouraging when you see everyone else going under contract while you're still on the market especially if the homes are priced similar and offer about the same. You start to question your taste etc.
Yeah it sucks dropping another 7 grand off the price but if you really need to move and aren't just testing the waters then you might feel relief to get the house sold.
Home ownership isn't a path to wealth and for people who think they can buy a home and then turn around and sell if for 40 thousand more 3 yrs later are in for a rude awakening unless you live in super hot hot hot markets.
In the subdivision I'm currently in....a house sold last year for 360,000. Owner listed it two months ago for 480,000. He's crazy man! It's still sitting-- everyone in this zip code suddenly think this is silicon valley and are jacking up the prices and trying to get rich quick. Lake Nona area of Orlando.
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