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When to Consider a Price Reduction

  • 12 months ago
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When to Consider a Price Reduction-Bloom-Realty-Krista-Moreno-Seguin-Texas-Real-Estate-Guadalupe-County-Real-Estate-Selling-a-Home-Real-Estate-Market-in-Guadalupe-County

Nothing is more nerve-wracking than watching your home sit on the market without receiving any offers. A house on the market for an extended time without generating serious interest may be overpriced. Here are some examples of when to consider a price reduction.

Lack of Interest

A home that has been on the market for several weeks without any showings can indicate its price is too high. Most buyers won’t even take the time to see a house if it’s priced well above similar properties in the area.

Negative Feedback

Negative feedback about the condition of the property should be taken into consideration. It can indicate that the home does not meet buyers’ expectations based on the asking price. A lower price point may attract more interested buyers.

Few Offers

It’s time to consider a price reduction if a home has been shown several times but has yet to receive an offer. A lack of offers is a big indication that the house is not priced competitively.

Market Conditions

We have seen the market shift dramatically over the past two years! It is essential to base your asking price on current conditions rather than what has happened in the past.

Need for a Quick Sale

A job relocation, financial hardship, or other factors can result in needing to sell quickly. Lowering the asking price may be necessary to attract potential buyers quickly.

Working closely with a trusted REALTOR® who can provide valuable insights and guidance on pricing strategies is essential. I am happy to conduct a CMA of your property to ensure your home is listed at a fair market price. Contact me at krista@bloomrealtytx.com or 830.305-5248, and we will set up a time to meet.

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