When to make a price adjustment?


When to make a price adjustment?
By Scott Rogers • October 14, 2012
As I mentioned last month, after we have your house on the market for a month or two, if we aren't having many showings (or we're not satisfied with the feedback from those showings) we may want to adjust our pricing strategy to work towards a successful sale. But then the question comes to WHEN to make the price adjustment. In some ways, as soon as you have decided you need or want to make a change in pricing strategy --- MAKE THE CHANGE! However, one of my clients brought up a great point this past week, which is that there aren't always buyers for every house in the market at all times. So....if the right buyer is in the market now, great, a price reduction will help them decide to make a move now versus later. But....if the right buyer is not in the market now, the lowering our price now doesn't do much other than leave us with less negotiating room later. There is no one "right" answer here -- as we can't conclusively know whether the buyer of your home is in the market right now, or whether they will be later. That said, develop a pricing strategy that works for your timing, your life situation, your motivation level to sell, and stick to it. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
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