Specifically it is all about the current market – not where the market will be in six months or where it was six months ago.
I remember way back when the prices started the big decline. I saw sellers who used the rear view mirror approach to pricing - lowering their price after they had already passed the price point on the downward curve.
In a declining market smart sellers priced their homes just below the current selling prices for similar homes. Many have learned the futility of chasing a falling market.
It all comes down to pricing that is
- consistent with the sold comparable properties and
- accounts for the real competition (not the overpriced neighbor).
Considering selling your Viera, Suntree or Rockledge, Florida home? Call me at 321-693-3850 if I can assist in any way including a free market analysis.