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Friday, October 13, 2006

Pricing Strategy that Works????

I just read an article from the August 7, 2006 US News & World Report by Alex Markels which deals with the "New Housing Market." An interesting point made in the article is that sellers need to do a reality check. Interestingly the article states that many real estate agents are recommending that sellers price at or below the comparable property values - even 10% below. This does seem like a realistic strategy. Buyers know it is a buyer's market and keen buyers are looking to negotiate even further. Why not price low enough to get multiple buyers bidding up the sales price for a home? Sounds reasonable! I encourage you to get a copy of the article and read it, whether you are activley buying or selling or just considering making a move!

UPDATED APRIL 18, 2008: The story is still the same. If you want to sell in this market it is imperative that the price be competitive.

Good Luck! Remember to consult a knowledgeable Realtor when buying or selling real property! Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Melbourne, Florida.

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