Is It Time To Lower Your Asking Price?

You’ve heard all about Nashville’s white hot real estate market. You’ve talked with people who sold their homes in mere hours. Yet, your house has been listed and viewed and still hasn’t sold. So, is time to lower your asking price? Maybe. Here are some signs that could be the case:

• You’ve been on the market too long – Homes tend to get the most action and attention within a few weeks of hitting the market. The longer your home sits, the more likely it is to be overlooked by homebuyers who may think something is wrong with it (such as too high of an asking price). The truth is, the offer you get after that point is likely to be lower anyway.
• Comparable homes are still selling quickly – Is your competition moving quickly while you are stagnant? If so, perhaps it’s time to look at what they are asking versus what you are asking. If your home is significantly higher, it’s probably a good bet that you will need to lower it.
• It’s not truly comparable – Sure, your house has the same square footage and lot size as your neighbors, but perhaps it’s pretty out of date in terms of style and upkeep. If this is the case, you can either lower your asking price or pull the house off the market, make some updates and re-list it.
• You are out of time – This is the most obvious sign – if you are under a timeline to get your house sold and no offers are being made, it’s time.

We’ve looked at pricing your home here and the importance of nailing that listing debut.  Overpricing your home can turn away potential buyers and take longer than necessary to sell your home. Don’t try to do it along. Work with an experienced REALTOR to help you with listing your home and finding the right asking price!

Call DeSelms Real Real Estate today at 615.550.5565 if you’d like to speak to one of our award winning agents about getting your Nashville home ready to sell!

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