Video takeaways and observations:
1. Nationally, $27.4 billion dollars have been cut from asking prices between June 1st, 2008 and and June 1st, 2009
2. 1 of 4 homes has had a price reduction
3. On average home prices have been cut 10%
4. Foreclosures are putting pressure on asking prices of non-foreclosed homes
5. Better to price your home right from the start
6. One major price reduction better than multiple smaller price reductions – multiple reductions can give buyers perception that home is “damaged goods” per se – sellers can loose leverage with multiple cuts
7. Buyers, see if you qualify for 1st time home buyer tax credits
8. Talk to your lender about your financial situation, credit and purchasing power
9. Utilize sites like Trulia and do research- take your time and make informed decisions
10. Negotiation strategies – be patient – plenty of inventory to choose from
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