"My honest thought is that $1,009,000 is a terrible list price. You must price it like Macy's. 999,999."
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Lee,

With all due respect, I totally disagree. A figure of 999,999 while only six figures is almost an insult to one's intelligence. Anyone with any common sense at all knows that's essentially the same as a million. Buyers don't look in Macy's ads in range increments the way buyers search for homes. At an even 1,000,000 Katherine's house would show up in searches of 900,000-1,000,000 and 1,000,000-1,500,000. With a 999,999 listing price, you're missing a whole other pool of buyers by using cutesy pricing.

I've seen discussions on the psychology of doing it in the fashion you suggest, and I'm sure you wouldn't suggest it if you haven't been successful in doing it in the past. However, I just can't buy into it in this situation.

With all that said, your other suggestion on pricing would seem to be very logical to me. Certainly a heck of a lot better than 999,999. Missing a whole other pool of buyers by 20-40k isn't near as bad as missing them by one dollar.

Hi Katherine,

Could you disclose what offer you accepted?

Katherine,

Pricing is the most important factor to a home selling. A properly priced home sells in a short period of time. During the first two weeks a home is on the market are vital. That is when they recieve the most exposure. Don't be mis-led. There are plenty of buyers out there in all price points.
My honest thought is that $1,009,000 is a terrible list price. You must price it like Macy's. 999,999. Buyers search for homes and get approved for loans in hundred and fifty thousands. At 1,009,000 you are missing many potential buyers.

After a month on the market reducing it to $999,999 may not be enough to bring life to it. It is getting the stigma "what's wrong with it".
There are so many buyers out there right now due the low prices and low interest rates if you price it below market they will bid it up to market price. Since you said time is important to you, I suggest you consider $959,950 -$979,950. If you don't make another substantial price reduction you will be forever chasing the market.

Good Luck.

Lee http://www.leesellsmore.com
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Hello Katherine,

I have visited your home and here is my take:
* Pool is a big negative in Foster City as you pretty much eliminate families with small children. Suggest you share the cost of removing it or filling it up
* Your home is well maintained but dated. Some of the comparable homes were remodeled recently with very nice upgrades
* your price point puts you in exclusive category (outside of first time buyers range). The first time segment is kind of limited to 910 - 920 range.
* You are right on Marlin Ave, a relatively busy road with approach to 2-3 schools from there.

Good luck with sale, you have a nice house overall especially the barbecue area outside.

Hello Marlin,

Pools in my market do not bring very much re-sale value to the homeowners. With regards to your pricing, I recommend that you and your Agent keep a very close eye on the comparible sales in your area. Prices can change very quickly, so it will be imperative that your Agent continually monitor the market so they will be able to make any recommendations with regards to changes in value. Only then will you be able to make the best decision. Good luck!

Matt

My suggestion is that you delete this question immediately.

Pools in Foster City are probably not a big bonus. That being the case, it could narrow your market. With regards to pricing. Your REALTOR should have a pricing strategy that you two have discussed. This should not be an on the fly decision. you are in a tough price range in todays market. Discuss what would be the lowest offer you would accept and price just above that to leave room for a counter. Good luck.

I'm not sure about your area, but in mine a pool could either be the reason someone buys the home or the reason they pass it up. Many people don't even want to look at homes with pools due to the added risks, maintainance, cost, etc.
As far as pricing, I would first ask your realtor more about comps that sold quickly and how your home compares. Again, my market is much different as there are very few homes over $1 million, but I'd venture to say that some buyers will, for instance search homes up to $1 mil. This would leave your home off the search results even though its within 1% and most buyers would probably still consider it. On the flip side, buyers may search $1 mil to 1.25 millions dollar homes. At $999,999 your home would be left off that list. If your home is really worth about $1 million, that's exactly where I would list it. Please consider this very general information as I am not familiar with your home or local market. Follow up with your Realtor and see what he/she says.