WWYD??

We listed our house for sale 2 weeks ago. We had a broker open house yesterday and lots of interest was generated from the OH. Our home is listed for 60,000 LESS than we purchased it for almost 6 years ago based upon comps in the market.

The same week we listed a house sold in 5 days that was just like mine. It never even made it to the MLS. The house sold for 70,000 less than we purchased for. Yesterday a new home came on the market for 4,000 less than what we paid for our home 6 years ago (or 55,000 more than what we listed our home for). Our realtor said that they are insane and will not get their asking price. I think that people will not realize the other house is for sale as they are in different price ranges.

Would you
do nothing?
raise your price?


We live in a planned community. There are only 5 houses that look like mine in the entire 2000 home community. It is a good area, with great schools, nice house. My realtor describes my house as immaculate, move in, bright-airy. He said it was a 9 of 10. 10 being brand new home. I don't know what the inside of the other house looks like as they don't have any photos up on MLS except for the exterior.

ETA: If you click on other, what would you do?

Message edited 4/27/2011 4:23:54 PM.

Re: WWYD??

Depends on how fast you want to sell. A well priced house will more than likely sell faster than an over priced home. Also what is your bottom. If you aren't getting bites at the price it is can you drop it even more?

At the end of the day (if the house is otherwise great) all you have is price to work with.

Does your current price give you negotiating room?

And is your house on MLS yet?

Re: WWYD??

My house has only been listed for two weeks. ETA: There is little wiggle room as there are less expensive styles and more extensive styles of homes where I live. There is a real floor so to speak on home prices. If I decreased - honestly - you would be in a different style home bracket.

Message edited 4/27/2011 4:34:41 PM.

Re: WWYD??

i wouldn't raise my price. buyers who are watching your house would wonder why. and if your house is a lower price point than the other one for virtually the same house, it only makes yours look all the more better.