Reply to Neighbors still won't drop their price after 3 months

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[quote=Anonymous][quote=Anonymous]Some neighbors of ours have had their home on the market for 3 months at a price that seemed too high from the outset.  Three months later, the property is still sitting on the market with not even a tiny price-drop.

We live in an area where houses usually sell quick; theirs isn't selliong at their desired price for a number of reasons they know about.  Mainly, it just isn't worth what they priced it at - there are better properties on the market for that price.  Now, if they ever want to sell, the property will probably go for far less than it could have gone for if it had been priced appropriately from the beginning.

While this isn't going to impact me much since we aren't planning to sell soon, I just point it out to emphasize, sellers, price your homes appropriately.  If you are greedy and irrational, you may come out with LESS at the end.  Price it a little lower than expected, and in our area you'd have multiple offers.  When a property sits on the market, people start to assume there is something wrong with it that is not visible.  And buyers, some sellers are just stubborn.[/quote]

My, what a fountain of wisdom spews forth for your neighbor's benefit.   My intuition tells me that had your neighbor done as you suggested they should have (listed their house for far less three months ago), you'd now express dismay that the neighborhood's comp values suffered a loss due asking too little for their home. I do hope their home sells soon- if only to move to have nicer neighbors.    [/quote]

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