Property Q&A in Landenberg>Question Details

Fmm, Home Buyer in Landenberg, PA

Why did they lower the price on this property already?

Asked by Fmm, Landenberg, PA Mon Mar 19, 2012

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This question is about this property: http://www.trulia.com/property/3076424799-23-Pelham-Dr-Lande…

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Hi FMM,

Days on market (DOM) = 35. It appears that what happened was that after approximately 30 days on the market, the Realtor recommended and the client accepted a price adjustment of $10,000.

This is not necessarily a red flag, but simply a result of amount of showings/interest and feedback from any showings/open houses.

This looks like a beautiful property. Have you taken a tour yet? If not, I would be happy to set up a private showing. Just let me know.

Best of luck to you!

Eric Axelson, Associate Broker
Kurfiss Sotheby's International Realty
267.507.2287 direct
axelson@kurfiss.com
Web Reference: http://kurfiss.com
0 votes Thank Flag Link Mon Mar 19, 2012
Hi,

If a house doesn't have an agreement of sale on it after 30 days, it's overpriced and needs to be adjusted. With so many properties on the market, buyers can pick and choose and one of the biggest factors that's driving them is price - every time. This also proves that this seller is motivated to get the home sold!

Best regards,

Jill Callahan
Coldwell Banker Preferred
http://www.jillcallahan.com
0 votes Thank Flag Link Mon Mar 19, 2012
It is very common if no offer has been received after 30 days to lower the price of a listing. That is what happened here.
0 votes Thank Flag Link Mon Mar 19, 2012
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