Jocelyn Bish…, Home Seller in Windham, NH

Should we drop our price AGAIN to $309.9 or lower after the election?

Asked by Jocelyn Bishop, Windham, NH Wed Oct 29, 2008

Our home in windham nh has been on the market for 95 days! Although we are discouraged, we still have to sell it a.s.a.p. so our agent says to drop the price after the election to $309.9 or lower. How will waiting after the election help?

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NonRealtor, , 23456
Tue Nov 11, 2008
Thanks Bill, sometimes the best advice is really simple. I'm not sure about the realtor's advice--"drop the price after the election"--is that real advice? LOL. Maybe drop the price the next time it rains. Good Luck
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Bill Eckler, Agent, Venice, FL
Mon Nov 10, 2008

Where would the world be without wisdom like this.....I'm sure Jocelyn will find great comfort in your tremendous insight.
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NonRealtor, , 23456
Mon Nov 10, 2008
Maybe just keep the house--you like it, right? That's why you bought it. Good Luck
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Ken Lambert, , Exeter, NH
Mon Nov 10, 2008
Hello Jocelyn- Like others have said, 95 days is not that long these days. Have there been any offers in that time? How much foot traffic? Those are keys you have to know; its not all about written offers in order to determine if the home is properly advertised and/or priced.
What's the average DOM in your town?
Get another opinion on the current true value of your home, and then take 10% off of that value. Statistics show that will help your traffic and your offers.
You might also consider offering an extra 1% to the buyer's agent that brings you the buyer. That's an extra 1% out of your pocket/ proceeds, but maybe will help your foot traffic and interest a little.
Thanks, and Good luck,
Ken L.

PS- If you want an independent opinion on the value of the home, please feel free to contact me directly. Thanks.
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Dane Hahn, , 34223
Thu Oct 30, 2008
Hi Jocelyn,

It's a shame to have to ask this question to the general public and the Realtors at large. I wish that you had more confidence in your Realtor, and could trust his or her advice.

Yes, price does cure all real estate ills. You will be able to sell if you lower your price, and Thank Goodness the election is finally just next week. The question is, what's the right price? And 95 days is not the longest time to sell a house, in fact it's unrealistically short in this market.

Bottom line is that WHEN the price is right, AND a buyer is ready, you WILL sell the house.

You can always DUMP the house by underpricing it, but that is foolish and will not serve either your purposes or those of your Agent. Good Luck with the sale.

Dane Hahn
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Scott Godzyk, Agent, Manchester, NH
Thu Oct 30, 2008
The election has nothing to do with real estate prices or whether someone will or will not buy a home. You should have your broker do a new broker price oppinion to make sure your house is priced correctly, he will look at a minimum of 3 similar houses in your area that have sold and at least 3 similar houses that are currently listed. as well you can have him print off all hous for a median comparison. prices have dropped sharply but Windham remains a great destination area for families moving to NH. Make sure your price is within what similar houses are selling for, make sure your broker is offering a 50/50 cobroke to buyer brokers and that your house is being advertised each and every week in the right places. Good Luck with your sale
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Ron Fredette, Agent, Bedford, TX
Wed Oct 29, 2008
Don't think the election has anything to do with it. What sells is the best priced home in the best condition. There are many homes to choose from now, so all buyers understand that.
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