Three Strikes “One Strike and You’re Out!”
In the rest of the country, Fall may just be getting underway.
But here in the Twin Cities, many of the leaves are already off the trees, and there’s a hint of winter in the air.
At least today, with temp’s in the 40’s and precipitation (that wasn’t sleet, was it??)
All of which suggests a different strategy for homes debuting on the market now.
Namely, pricing well from the get-go.
Starting Out Well-Priced
Normally a homeowner whose home hasn’t sold would revisit their initial asking price after 60-90 days.
However, that timing for homes debuting in late October coincides with the bottom of the housing cycle, during the holidays and the beginning of Winter.
As seasoned agents know, the best time for a price reduction is when the housing market is most active and Buyers are paying attention.
Which means the worst time is . . . when the market is slow and Buyers are preoccupied with other things.
The bottom line?
Would-be Sellers should pick their initial list price well — because they may be stuck with it for awhile.
Of course, picking the right price lowers the risk that the property will sit in the first place.