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How do you know when its time to drop the price?

High demand and low supply have made it a seller’s market pretty much all over the country, and especially for lower-priced homes. This does not mean your home will sell quickly. The price of your home still plays a big part. Prices are up about 7 % from a year ago, which in my opinion is good. Still, a house can be overpriced, and home buyers today know very well a good deal from a bad one. 

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A home sitting on the market for too long looks bad.  Your better off dropping the price and getting it sold. If you and/or your agent are considering a price cut, first research your neighborhood, right down to the ZIP code, to see how long it takes most homes to sell. Then look at homes that sold after a price cut. Once a price is reduced, all listing websites will be able to see that, and some will send an alert to buyers. 

Olick, Diana. “How to know when you should drop the asking price on your home.” CNBC, CNBC, 27 Oct. 2017, www.cnbc.com/2017/10/27/how-to-know-when-to-drop-the-asking-price-on-your-home.html.