Princeton Town Topics – Let’s Talk Real Estate – October 10, 2018
WHEN TO CONSIDER A PRICE ADJUSTMENT
Your home has been on the market for 30 days and you have not received an offer. It is time to analyze what the market is telling you. There are three key factors to consider: Showings, Feedback and Offers Received.
Have you had many showings? The first few weeks of a house being on the market should be a flurry of activity.
Take a good look at the feedback you are receiving. What is the opinion of price in comparison to other homes the buyer is looking at? Are there suggestions for cosmetic updates or concerns about the layout of the home?
Have you received any offers? Often times we think that an offer is to low and that very well may be the case. However, an offer shows interest and can give you a good indication as to whether the house is priced according to the market comparables.
This is not an easy decision or one that should be taken lightly. Take time to evaluate your situation with your Real Estate Agent.