Price cuts – how much and how often?

Two houses with new prices today illustrate the difficulty sellers face when trying to adjust their price to draw a buyer. 25 Selden Lane dropped $300,000 to $4.495, hardly large enough to draw attention these days, when buyers have already discounted it by at least that much.  65 Tomac Avenue saw a similar dip to $3.795.

But both these houses are now about a million dollars less than their original asking prices: $5.250 for Selden, $4.860 for Tomac. Had they had a million whacked off their price a month after first being listed, that would have attracted buyers’ attention, but who wants to do that? So it’s tough – you end up like that poor guy at 187 (?) Stanwich Road, who has been taking $10,000 a week off his price since Hector was a pup and still can’t unload the place. Dramatic action is called for, I think.

By the way, I wonder what the reaction of the sellers would have been to offers a million less than their asking price when the houses first came on. I suspect the angry owner and her agent would blame those horrible readers of that horrible blog, running around town making irresponsible, unreasonable bids! That’s my guess.

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One response to “Price cuts – how much and how often?

  1. BD

    Chris, sometimes sellers can’t hear in the begining…hearing can be a very difficult sensory ability to recover.