As reported in the Wall Street Journal http://tinyurl.com/nwj6ca Shelia Blair, the Chairwoman of the FDIC removed her home from the market. The price reductions just did not work. Really? Well price reductions do work and they do help homes to sell. We have a lot of homes on the market, but as a collegue of mine says, "There maybe a lot of signs in front of homes but only a few sellers are willing to sell" What he means by that is that even in this market some sellers are still "trying" to see what they can get for their home. My advice--Pack it up and do like Shelia did and remove your home from the market. The last thing serious sellers need in this market are unmotivated sellers who are playing with the idea of selling.
I recently particiapted in a significant poll for the top agents in the Metro Milwaukee area and one of the questions that was asked was this: "How should a Seller price their home in this market?" The number one answer: Agressively. I have had the privilege of selling over 30 homes so far for the year and they all sold because the seller agreed to price the home agressively. That is the key even in a difficult market. In Real Estate right after location, location, location it is price, price, price.
Just my two cents!
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