Reply to When should you do a price drop?

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Reply to "When should you do a price drop?"

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[quote=Anonymous][quote=Anonymous]I wouldn't drop the price.  In your price range to really make a difference you are going to need to drop below one of the search brackets, for example if your home is priced at $399K, you would need to drop to $374,999 to make a difference and to get a new set of viewers.  Personally I would say be patient.

But, I will say this, if you've received a few offers and they've all been consistently $35K less than yours, what comps are they using?  Are they using the houses which sold in your neighborhood and are the same model?  Could your realtor not get any of these offers up?  Are you countering on the offers?  Never be insulted by an offer, always be willing to negotiate.[/quote]

We received one offer right off the bat, but another "almost offer." The comp they used was for a smaller unit with less bathrooms that does consistently sell about 30k less than mine. There are numerous comps now for my exact price since like I said 5 sold at that price + or - 5k. We couldn't get the offer up any higher.

I suppose the market just got over saturated quickly and I just need to be patient. My place is still valued a lot less than it sold for in 2007.[/quote]

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