I like to share stories from my real world real estate experiences. Hopefully there can be a lesson shared that will save someone from going down similar paths. Today's story deals with pricing a home...
" I went on listing appointment back in January. The property of the homewoners had been on the market for over a year at a wrong price. My market study showed that the house, in it's current condition should sell for $875,000. Remember - I am in over 50 neighborhood houses per week. I am always current on market conditions.
When they heard this, they looked at me like I was a real estate moron. They listed Feb 15 with another Realtor for $1,125,000.
I showed the property to a buyer yesterday. Price had been reduced to $899,000.