Zillow Advice: Housing Market - How low should one lower the price http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ Zillow Advice | Zillow Real Estate I usually tell sellers that ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ I usually tell sellers that if they get a good CMA from the beginning and if the realtor is really good that the price that they recommend is usually the right price, maybe with a little more or less but it should be pretty accurate. &nbsp;A lot of times some sellers believe they can get more and over price the home and that is when you have these issues with reducing the price.&nbsp; Fri, 17 Jul 2015 14:18:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2015-07-17T14:18:00Z If I saw your house listed ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ If I saw your house listed at a certain price I would not consider buying it. Yet if I saw that house for sale at a lower price I might jump quickly to buy it.<br/><br/>You have 2 options. You can either <br/>1 sell it for what you can get now or <br/>2 keep it and not sell now.<br/><br/>If the price now is not something you like do not sell. If you want to sell realize the price today is all you can get today. Tomorrow might be worse.<br/><br/><a href="http://www.businessinsider.com/peter-schiff-home-prices-2010-12#comment-4d1f763349e2ae9711260000" rel="nofollow">Peter Schiff: Here's Why Home Prices Have To Decline At Least 20% And Probably More</a> <br/><br/><a href="http://dallasfed.org/research/eclett/2010/el1014.html" rel="nofollow">The Fallacy of a Pain-Free Path to a Healthy Housing Market - Economic Letter, December 2010 - FRB Dallas</a> &lt;--- the federal reserve. They print the money and make monetary policy.<br/><br/>You make a choice today. Tomorrow the choices available could be different. Fri, 15 Apr 2011 01:39:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-15T01:39:00Z You truly need to price it ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ You truly need to price it right.&nbsp; My clients always receive close to asking price.&nbsp; The buyers agent needs to explain the the client that it is priced at the market value.&nbsp; So make you start at the right price.&nbsp; Good Luck.&nbsp; Thu, 14 Apr 2011 20:38:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T20:38:00Z Your Realtor can show you ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ Your Realtor can show you what the current average market sale price to list price ratio is, and that can be very helpful in determining your most aggresive list price. The best and first course of action is to make sure you have a current and thorough market analysis done by your Realtor, because a bank appraiser for any subsequent buyer mortgage will be looking at the same information. The sale price has to make sense to the appraiser, and if you have data to support the right price, the house will appraise. Get a feel for where your house fits into that market analysis report, and price it so it stands out as the best overall value among the similar homes for sale in the area. Thu, 14 Apr 2011 19:37:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T19:37:00Z Nothing worse than owning ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ Nothing worse than owning property in another state, you have little control. Renters can ruin a property and then you willhave to&nbsp;deal with those problems from afar and you could put thousands back into the property anyway.&nbsp; I would sell it, take the loss and move on.&nbsp; Best of luck. Thu, 14 Apr 2011 19:32:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T19:32:00Z As low as it will take to ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ As low as it will take to generate traffic, leading to offers, leading to a sale. Thu, 14 Apr 2011 19:26:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T19:26:00Z Hi there -Be realistic and ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ <p>Hi there -<br/><br/>Be realistic and keep an open mind when it comes to selling and buying a home.&nbsp; A&nbsp;thorough market analysis will help you price your home competitively.&nbsp; Also, it is essential that you&nbsp;and your agent are knowledgable about your&nbsp;target market (i.e. what comparables are being listed for, what they are selling for, how long they have been on the market,&nbsp;and&nbsp;other trends).&nbsp; Lastly, be comfortable&nbsp;and honest with the agent you are working with because they are working in your best interest.&nbsp; This will enable you to communicate any&nbsp;concerns or ask questions when needed in order to sell your home at the right price.&nbsp;<br/><br/>Good luck!<br/><br/>Regards,<br/><br/>Nancy</p> Thu, 14 Apr 2011 18:33:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T18:33:00Z In considering the repies ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ <p>In considering the repies you get, remember we are working on very limited information. More often than not, Realtors provide accurate CMA's (for free) in the beginning of a listing, but Sellers won't accept the numbers from the analysis. So the property is listed at a higher price and putting the property at a disadvantage from the beginning. If the initial CMA price is unacceptable, then the Seller should consider holding onto the property till market conditions return. But the question is...can Sellers wait the needed time for the market to return. I guesstimation is we are&nbsp;5 to 7 years out before we see market considtions improve significantly. Are we at the bottom, I don't think so, it was recently reported home values declined another 17% in February. But remember, each market is unique. Listen to your listing agent like you would listen to your Doctor!</p> Thu, 14 Apr 2011 17:25:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T17:25:00Z The best solution is to have ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ The best solution is to have an accurate market analysis right from the start. &nbsp;Price the home where it belongs and you should receive offers close to the listing price. Thu, 14 Apr 2011 17:08:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T17:08:00Z There isn't a "right way" ... http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ There isn't a "right way" to deal with this - I would say, price the property aggressively but within reason, and be willing to drop the price after 2 weeks. The first 3 weeks on the market are critical - the properties that are attractive and are priced accurately, sell within those first 3 weeks. Well staged properties tend to sell much sooner and at higher values than un-staged ones. All food for thought. If you'd like another free CMA and an Realtor with a good reputation, I'm happy to offer my services as well.<br/>[contact info removed by moderator] Thu, 14 Apr 2011 17:01:00 GMT http://www.zillow.com/advice-thread/How-low-should-one-lower-the-price/395087/ 2011-04-14T17:01:00Z