Mar. 6, 2008 - Pricing Your Home Right and Having Patience

It is more difficult now more than ever to determine whether or not you have priced your home right.

With average days on market doubling in many areas, it is hard to tell if you are not getting showings and offers because your price is incorrect, or simply because there are fewer buyers in the marketplace.

It is not unusual for buyers to want to see price reductions, but it is also not unusual for buyers to want to pay less than asking price.  Consequently you could get a triple whammy if you lower your price to get an offer, the offers are coming in at less than asking price AND then you get hit hard at the time of the Home Inspection.

Still, I think the next 6 months will be better than the last six.  Just try to be more patient, more flexible, and try not to worry if you don't get an offer in the first 10 days.  The market is not a Buyer's Market and still leans to the seller side for the most part, but only if the seller is realistic and pays a lot of attention to condition and pricing well.

Patience is a virtue.