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If you look at your current comps and see that your price is still right I would suggest offering incentives. Perhaps pay some of the closing costs to help alleviate the pressure that buyer's have to come up with larger down payments. If your next closest comp at the same price is offering something along those lines it may help you compete better and if they aren't offering any it will make your home a more attractive option. I know it's not a new idea but I find it works better than offering a higher buyer agent commission.
I would normally think that lowering the price after only 1 month is a bit too soon, but it may not be a bad idea since you already bought another house. Has there been anyone who showed any interest in the house? 2 months ago we had someone interested in our house but never gave us an offer, we lowered the price then our agent called their realtor and 2 days later we got an offer!
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Does lowering the prices of your house help sell it ?
slamdunk73
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We are thinking of doing a few things.
1) Lower the prices of our house
2) Put it up for leasing
Will lowering the prices of our house help sell it ? I talked to my agent about this, and she believe that if we lower the house prices, potential buyers might wait and see if we would lower our prices some more or know that we are desperate and give us low ball offers. If we lower the prices, how much should we lower it ? It's currently priced at $725K. I was thinking to lower it to $699K to get the buyers looking for house less than $700K. Or should we give it a little more time since this is a slow market ?
Any comments or suggestions are greatly appreciated. BTW, the house is in Orange County, CA.
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