Home Seller Tip
Heather Barr points out that nationally;
- Half of all listings had a price cut in October and
- The average cut was 7.5%.
On Price Reductions
I’d like to emphasize to home sellers that you want to make a least a 4 to 5 percent price reduction or the price cut will be invisible. Several invisible price reductions does NOT equal one larger price reduction.
You want home buyers to think, “Wow, this is a good price now. Le’t snag it before someone else does!”
With a 1 or 2 percent price cut, home buyers will not be afraid that someone else will snag it if they don’t make an offer quickly.
Invisible price reductions do not create any urgency in buyers to make an offer right now.