Princeton Town Topics – Let’s Talk Real Estate – May 13, 2015
PRE-MEMORIAL DAY PRICE REDUCTIONS CAN YIELD BIG RESULTS
Memorial Day is just around the corner, and if you have a home on the market that hasn’t sold, now is the time to think about adjusting the price. Research shows that by the time Memorial Day rolls around, there’s a much higher likelihood that potential buyers will become discouraged by overpriced inventory and turn instead to rentals, especially if they have summer vacation plans on the horizon or they want to make sure their family is settled in before school resumes in the fall.
Pricing a home for quick sale without losing out on potential profits can be a difficult balance to achieve, especially if you don’t have in-depth knowledge of current inventory or the habits and preferences of your target buyers. Buyer behavior shifts in other ways as the seasons change, and unless you understand and can anticipate shifts, you can wind up missing out on a sale and increasing your own holding costs.
If your home hasn’t been attracting the buyer interest you were hoping for, now is the time to consider lowering the price. Talk to an experienced agent who can help you design a sales strategy aimed at helping you make it to the closing table faster.
