I think we are moving into a good spring market. Depending on the price and condition of the loft good homes are selling for asking price. But only when they are priced right. Pay close attention to market conditions and it will sell.... more
I have a few questions.....Are you listed w/ a Realtor? What has your Realtor recommended about pricing? Who is doing open houses every weekend....you, your Realtor, or another person from your Realtor's office? What kind of turn out are you getting at these open houses?
Depending upon your list price, 20K may be a little, or may be a lot of price drop. In our area, we have seen price drops over 100K. I know that is hard to swallow, but it does represent dollars that were actuall never had.
Depending on how long you have been on the market and what has been done to promote the property, my recommendations may vary.
If your property is show ready, you have to evaluate your pricing and the marketing exposure given to your property. You cannot advertise your way to a sale of an overpriced property. If you ave gotten good exposure and no buyers, it clearly speaks to price. If your marketing efforts have not been up to par, you need to get the word out.
Last question........when is the last updated CMA you received?
The longer you stay on the market, the more the clock ticks on your DOM (days on market.) While the DOM meter should not be an accurate reporter of value, the truth is that most buyers will discount more for each month on market.
If you can provide a bit more insight, I am sure the responses from all RE Pros can be a bit more specific. I will ck back for further info, also.... more