Definitely the price should be lowered in this market.

House for sale 3 months now, lowered price, and 1 lowball offer. Should I lower price more?

house with money image

It is unfortunate, but true. The housing market in 2016 is very competitive, and you have moved out of the “sweet spot” of being fresh on the market. Many Realtors and potential buyers that learn of your property’s “DOM” (days on market) will ask themselves, “why has this home not sold?” or “Should I lower price more?”

The good news is, if you are motivated to sell, there is definitely something that can be done. Before I share this with you, however, you need to ask yourself what is your main priority in selling your home:

  1. Timing
  2. Convenience
  3. Proceeds

I understand it is frustrating to go through the process of selling your home. That is why I always communicate with home sellers in order to find out what their main concerns are before listing their home for sale.  For example, a homeowner who is in no hurry to sell their home has a different priority than someone who is selling their home because of a job relocation.  That being said, it sounds as if convenience may be your issue.  Therefore, you should lower the price.

 

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