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When to lower sellng price. I sense that house is priced to high.

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October 01 2012 - US
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When you listed your home for sale, it should have been priced based on the recent sales of similar homes in the same area. Sure, adjustments need to be made to allow for varying square footages and improvements but your listing agent should have gone through all that with you and advised you on where it should be priced.

You should also have been told how many days on the market is normal in your area before a sale is agreed. Once you get past that number and you don't have any offers, then assuming it is being marketed properly. it is a sure sign that the home is overpriced.

Another good indicator is a lack of ahowings. If homes in your neighborhood are selling and you are getting only a couple of showings every week, the market is definitely telling you that you need to lower the price.
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October 01 2012
No more than 21-30 days after your original listing date and online exposure unless you have a specialty property.
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October 01 2012
I suggest that you ask your listing agent to do another comparative market analysis (CMA).  I presume that one was already done prior to listing the property, so this one should update the information.  I would also pay attention to the feedback that is being provided by the buyers who have viewed the property.
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October 01 2012
Has your Realtor had any open houses? Often times the Realtor will get feedback from the people walking through your home and this feedback will let you know what people are feeling about the house. Many times it is that the home is overpriced and may need a price reduction.
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October 01 2012

If you sense your home is priced to high it likely is.  Have your Realtor do a new market analysis of your home so you can get a feel for what the market has done since you have put the house on the market. 

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October 01 2012
 
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