Zillow Advice: Pricing - shoudl i lower the price? http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ Zillow Advice | Zillow Real Estate 50,000 or 5,000? 50,000 I ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 50,000 or 5,000? 50,000 I would say get a second opinion. But if its 5,000 and you have no offers on the property I would agree to lower the price.<br/><br/><br/>Thanks<br/>Samuel Rifkin Thu, 10 Oct 2013 17:52:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-10-10T17:52:00Z $50,000 seems like a big ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ <strong>$50,000 seems like a big drop to me.&nbsp; I would seek a second opinion or consider paying for an appraisal prior to such a big reduction.&nbsp; Are you receiving feedback from showing agents and are you seeing showing activity?&nbsp;<br/><br/>Sometimes chasing the market up or down&nbsp;is a bad thing.&nbsp; We are in an improving market and it appears the coming year will be good....in my market at least.&nbsp;</strong> Wed, 09 Oct 2013 16:44:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-10-09T16:44:00Z Lowering your price a little ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ Lowering your price a little at a time likely will result in costing you money in this market. &nbsp;My clients benefit greatly from proven strategies that sell their house fast for top dollar. &nbsp;I promise this just isn't a line. &nbsp;If you want to learn more, check in with me and I will make it worth your time. Tue, 08 Oct 2013 00:49:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-10-08T00:49:00Z Thats seems like a drastic ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ Thats seems like a drastic reduction, for a home priced at $399,000 the reductions are usually between $10,000 and $20,000. It all depends on your showing activity, if you are having little or no activity each week then i would say a reduction is required. Mon, 07 Oct 2013 18:31:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-10-07T18:31:00Z The market may be improving ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ The market may be improving but 50K is a huge spread.<br/><br/>My question is why was it listed 50K above the current market in the first place?<br/><br/>Remember too - what you hear about the "market" improving is national.&nbsp; Real estate is local.&nbsp; It depends on what is happening in the immediate area where the home is located.<br/><br/>I'd ask my Realtor to show me comps.&nbsp; I'd suggest lowering in steps.&nbsp; A huge reduction in price sometimes sends the wrong message to potential buyers. Fri, 27 Sep 2013 15:21:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-09-27T15:21:00Z If your agent can provide ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ If your agent can provide you support to justify their price I would say yes.is the current price from the agent or yourself. Understand that your agent must be able to justify their suggestions with recent Sales. homes that are priced right sell. yes, in Paterson too. Thu, 26 Sep 2013 14:29:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-09-26T14:29:00Z I will not through your Agent ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ I will not through your Agent under a bus!<br/><br/>How long was the property at $399 K?<br/><br/>If you can sell will it appraise at that amount?<br/><br/>Regards, Thu, 26 Sep 2013 07:07:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-09-26T07:07:00Z I'll answer that with a couple ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ I'll answer that with a couple of more questions to get a better idea of your situation.<br/><br/>1. Where is it in comparison to other recent (back 4 mo) sold's in the immediate area?<br/><br/>2. What is the currents activity level of showings, offers and most important feedback from other agents as well as potential buyers that have gone through it?<br/><br/>3. What price did the agent suggest to start the contract, and did he go with your opinion that the house was worth more than what he/she thought?<br/><br/>4. What reasonings did the agent give you to support their logic that it needs a reduction?<br/><br/>5. NOW ON THE AGENT, are they properly advertising and marketing the home in your opinion? Have they shown that they are actively promoting the house?<br/><br/>6. Have they consistently followed up on all showings as well as provided you with feed back from Broker open houses, and weekend open houses?<br/><br/>Don't just lower it because the agent isn't working hard, but if they are, and they have the backing to indicate the price is high, a reduction could be in order. &nbsp;You also could structure a $10k reduction for the next 5 weeks in a row. &nbsp;This will lower the price, keep it fresh in searches and if someone is keeping an eye on the home, they may bite after the 3rd $10k is down, at least keeping $20K in your pocket. &nbsp;I personally think that is a large drop for that value of a house, but once again I don't know all the information to give you a solid, yes or no answer. Thu, 26 Sep 2013 00:39:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-09-26T00:39:00Z Lower it $10K at a time if ... http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ Lower it $10K at a time if at $399K, every two weeks...IMHO Thu, 26 Sep 2013 00:31:00 GMT http://www.zillow.com/advice-thread/shoudl-i-lower-the-price/512934/ 2013-09-26T00:31:00Z