Have had a small 2 bd/2 ba townhome for sale for 9 mos. in West Chester, PA...will dropping the sales price?
below market help drive a sale?
Thu Dec 13 2007, 07:40 - 19380 - Market Conditions - 5 answers
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Homes that are priced right and look better than the competition are selling. Most buyers want a home that is move in ready. There may be some minor updating or improvements to the home's appearance that would help it appeal to more buyers.
Sat Jan 12 2008, 12:18 Web Reference: http://www.stagingandorganizing.com
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I just sold one down the road that was on the market 100 days. It was empty and a little tired but not bad. I had it priced at $315 and got a reduction to $309,000 after two months. It took a LOT of open houses and some creative signage but we got two offers in the $280's and one of them we 'pulled' out over the $300 level after much negotiation. You see the buyer needed to occupy prior to settlement! Where there's a need there is a way! Good luck. Now is the time to sell. Older folks sometimes just Have to move into something cozy and safe when Winter hits. That's now.
Fri Jan 4 2008, 20:40
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If your property is well presented (free of clutter, attractive curb appeal, freshly painted, clean), then it comes down to price and exposure. If your property is receiving broad market exposure (reveiw w/ your Realtor), then it is definitley price.
If your property has a storng online marketing presence with attractive photos and well written descriptions, then I would recommend addressing the price. Fri Dec 14 2007, 06:11
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If a home does not sell within the first 30 days, in my experience, it comes down to Price, Product (your home) or Pitch. If your home sows well and it is being properly marketed, then look at price. Good luck!
Thu Dec 13 2007, 23:31 Web Reference: http://www.cindihagley.com
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FIRST ANSWER
Janet,
I see you're in Hershey's Mill, competing with 11 other 2BR/2BA townhomes that are on the market. Not having seen your property, how does it compare to others? What has the feedback been? You have the lowest priced and smallest unit on the market right now - The market in general is slow although it's going to be slower this time of year anyway. If it compares favorably to other units, and you're happy with the job your Realtor is doing, I'd probably suggest that you stay the course (I think you started out way too high). If you're trying to sell quickly, you should probably take your Realtor's advice and drop it below $200k. This business is all about motivation - a seller's and a buyer's. With 11 other units on the market, what motivation does a buyer have to pick yours? That needs to be readily apparent - not only with the price, but with the location, condition, etc. Best of Luck! Thu Dec 13 2007, 09:14 Web Reference: http://www.phillyhomescout.com
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