In an effort to jump-start our home-selling experience, we’ve knocked a little off the top of our Great Raleigh Home. Kelly and I (and a friend in the biz) talked it over and decided we weren’t doing ourselves any favors by being the most expensive house on the market in our neighborhood. We pulled our initial asking price out of thin air, so perhaps we weren’t being realistic.
We’ll see if any of those close-but-no-cigar folks now turn into winners.
Update: Scratch that. We’re holding off on the price change. We may … may have found a buyer!
heh. hope your buyers don’t read your blog! 🙂
When we sold our house in Germany we had a buyer the same day that might wife (in panic mode without telling me) called in an ad to the local newspaper dropping the price by 50K (D-Mark not $). Luckily they didn’t wait until the paper came out to make an offer and we sealed the deal at only 20K dm under our asking price.
Ron
Well, we’re not panicking but we’ve actually decided to go ahead and reduce the price. As Kelly reminded me, we did have comps we used to guide our pricing decision. The difference is we went for the high end when it would be tough to justify it in light of our neighbors homes selling for less. I suppose its the price we pay for being one of the first on the market.
If we get the offer from the latest prospect, great. If not, we hope to catch the eye of a larger crowd with this pricing. We both think its the right decision.
My daughter, Ronnie, is fond of a website http://www.zillow.com/ which shows what they think each house on your block is worth and also if they are for sale what asking price. Are you aware of the site?
I’m not sure that I agree about the value for our house here in FL (Homestead Exemption and Save Our Homes laws keep the appraised values artificially low if you’ve been in the house a few years and I think they use the appraised values as a guideline) but it is a fun site to play with.
Ron
Yep. We’ve been on Zillow for a little while. Every outlet helps!