Realistic pricing can stimulate interest in a low inventory market where demand is heating up. Give me a call at 718 316 0011. I would be happy to check for you
If the price reduction falls into the value zone, yes there will be competition.
One Gulf of Mexico, big water view home, started at 1.4 millioin and large price decrease to 800 thousand....still no takers.
Be aware, a buyer interprets a price reduction as a demonstrated willingness of the seller to negoiate, an indication of motivation. I can tell the number of buyers who place a specific property on their watch list. Knowledgeable professionals will use a price reduction as a strategy to flush the waiting buyers from the shadows and create a critical mass of fresh buyers. Such a trigger event tyically results in the waiters contining their wait for another piece of real estate. (To indecisivie to act)
In increasing numbers, real estate is sold that NEVER reaches the radar of lurking buyers.
If you study the result of the HUD home pricing strategy, you will find difinative answer to your question in that market segment.
A report from the WAVGROUP regarding data accuracy on aggregate websites
Remax Realtec Group
4175 Woodlands Pkwy
Palm Harbor, FL 34685
Since there is a shortage of houses for sale any home that is priced right and in good condition is selling quickly. As for large price reductions, those homes have become more attractive to buyers because of the shortage. Bidding wars over priced right homes has become common place.
If you are looking for a new home and you see one that fits what you want, you would be wise to jump on it quickly. Call me if you need help finding a home. Buyers never pay a commission.
Gary R. DeFilippo, CMFS, ASD
NYS Lic. Real Estate Sales Associate