Home Selling in 02169>Question Details

Michelle, Both Buyer and Seller in 02169

Since July is a slow month, should I wait until Aug. to change my price, when more buyers might be looking?

Asked by Michelle, 02169 Sat Jul 12, 2008

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14
Adjust your price now.

The agents familiar suggest that July is actually a good month, regarding sales activity. So, don't take a chance on missing an opportunity to sell.

And even if July were as slow as you suggest, recognize that anyone searching for a house during a slow period (in some areas of the country, the slow period is between Thanksgiving and New Years) is really serious about buying. They're not just casual lookers; they're buyers.

So, whether it's an active or less-than-active period, you always want your property to be competitively priced. You always want to have the best opportunity to catch the serious buyer.

So: Have a new CMA done on your property. You ask about lowering your price, but you need to know what price is most likely going to be the "right" price. It wouldn't make sense to lower it, but still have it above fair market value. On the other hand, you wouldn't want to lower it more than you had to. So: Work with your Realtor; get a current CMA, then adjust your price accordingly.

Hope that helps.
1 vote Thank Flag Link Sun Jul 13, 2008
Don Tepper, Real Estate Pro in Burke, VA
MVP'08
Contact
Adjust now. There are still plenty of buyers during July and waiting to August would only delay the potential sale of your home.
0 votes Thank Flag Link Thu Jul 23, 2015
No, if you need to adjust your price, there's no reason to wait -- change it now. July is a slower month but there are plenty of buyers. Good luck! Julie Montgomery, Denver, CO
0 votes Thank Flag Link Thu Jul 16, 2015
The question you should ask yourself is, how much longer you can wait to sell your house. If the price is right there will always be a buyer. No matter what time of the year. I would suggest to not make any price changes around the 4th of July celebrations, but after that it should be fine. If your house attracts a family they want to move into your house before the next school year starts. They have to find their dream house in July and that might be yours! Good luck!
0 votes Thank Flag Link Tue Jun 25, 2013
Hi All American...that is great advice, but that isnt as effective for a property that has been sitting and letting the DOM climb. At this point, she has exhausted her pool of buyers and now she is just waiting for the new ones to trickle in here and there. If she stages without lowering her price, the pool of buyers that she has been exposed to, have already deleted her off their list. Perhaps consider doing a slight adjustment in addition to the staging.
0 votes Thank Flag Link Wed Jul 23, 2008
Well put.
Flag Thu Jul 16, 2015
Since July is a slow month, should I wait until Aug. to change my price, when more buyers might be looking?
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Listen to what your agent tells you. I'm not sure where you get your "slow month" information, or how you figure when more buyers will be looking but if you don't drop it now you're going to have to drop if even more than you probably plan to in another month.
0 votes Thank Flag Link Sun Jul 13, 2008
Hi Michelle:

If you are thinking about reducing price, do it now. . This is a great time, after the school is out, people are starting to look for homes to move and/or relocate.

The buyers will still be looking in August with your new price set in July; but hopefully the July buyers already bought the house and you don't have to worry about August buyers.

Sylvia
0 votes Thank Flag Link Sun Jul 13, 2008
Sylvia Barry,…, Real Estate Pro in Marin, CA
MVP'08
Contact
I can tell you that from a home inspector's point of view this July has been extremely busy! Peace and best wishes.
0 votes Thank Flag Link Sun Jul 13, 2008
Michelle
So you think later is better than now? why? What makes you think that?
Talk with your Realtor...
0 votes Thank Flag Link Sat Jul 12, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Many families have made their decisions by mid July, August families with moving and school.
http://www.lynn911.com
http://www.homes-for-sale-dallas.com
0 votes Thank Flag Link Sat Jul 12, 2008
I would adjust the price immediately. No matter how slow the market may be (July is not slow in CA!) there will be buyers looking in your price range.
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Sat Jul 12, 2008
The Hagley G…, Real Estate Pro in Pleasanton, CA
MVP'08
Contact
It all depends, how many showings have you had and what is the feedback? With enough feedback any time is the righ time to make a price change to reflect the buyers interest. If you havent had many showings and dont feel comfortable make any decisions...consult with your agent and ask him/her if there have been any sales (in your same price range) in your town. That will give you an idea of what buyers (that have that specific amout to spend...) actually bought instead of your home...
best of luck !
0 votes Thank Flag Link Sat Jul 12, 2008
Hi Michelle,

July is a very busy month. Many buyers try to coordinate their purchase with the beginning of school, so July is usually their goal to find something, so they can close in Aug and be settled for Sept. August is historically the lowest month of any kind of business activity in any trade. Its the month that most people go on vacation. If you wait until Aug to be priced correctly, you may need to price adjust even more at that point. The last thing you want to do is chase a declining market.

Best of Luck!
~M
Web Reference: http://MelissaBMancini.com
0 votes Thank Flag Link Sat Jul 12, 2008
If you know the price is not the right one, you should act immediately for a change; the more market time you collect at the inflated price the more you are likely to have to lower to make an impact.
0 votes Thank Flag Link Sat Jul 12, 2008
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