Helena Talbot’s blog – 5 Reasons to Reduce Your Home Price

While the market is on the rebound, if you’re selling, you know that numbers matter when it comes to price. But how do you know if your price is too high? And when should you reduce?

Many real estate professionals believe that if the price is right, your home will sell, even in a down market. However, the keyword here is “right.” Below are five signs that may mean you need to reduce your asking price:

1. You’re drawing few viewers. Your house has been on the market for a while, but you haven’t had many buyers check it out.

2. You have viewers, but no offers. In opposition to No. 1, you’ve had a handful of buyers look, but no offers have been made.

3. Your home has been on the market longer than comparable homes. Make sure your home is priced comparably.

4. You can’t make upgrades. If you’re on a deadline (moving for a new job?) and you don’t have time to make upgrades—like an updated kitchen or a new roof—you may want to lower your price to entice buyers who know they will have to make those changes themselves.

5. The competition has changed. Keep up-to-date with your local market. Keep an eye on comparable homes, and check out newly added listings. Just because your home was priced comparably two months ago doesn’t mean it is still comparable today.

The right price can fluctuate, and both you and your agent need to stay on top of your local market to make sure your home is still in the right range. However, be wary of dropping your price too often.

Buyers may wonder if something is wrong with the house, or try and push your price even lower. Ideally, you want one price reduction. If you need to make more, consider pulling your home off the market for a few weeks and then putting it back on at a lower price

I specialize in helping buyers and sellers invest in real estate in Loudoun County and Northern Virginia.

I have over 25 years experience in the real estate industry.  As a Broker/Owner with Exit Realty Talbot and Company, I bring special tools and solutions that enable me to exceed the expectations of my clientele.  If you are considering listing your property in Loudoun County or the nearby areas, ask me about our latest internet marketing systems.  I would appreciate the opportunity to earn your business.  

I am experienced in listing and selling short sales.  For information on the short sale process, please visit  www.LoudounShortSaleSolutions.com.

For a free market analysis on the value of your home, please visit http://www.LoudounHomeValues.com

My past awards and designations include – 2003 President of the Dulles Association of Realtors, 2003 Dulles Area Assoc Realtor of the Year, Salesperson of the year 2000 Dulles Area Assoc of Realtors,  Top Producer awards from both the Dulles Area Association and the Northern Virginia Association of Realtors.  I am a member of the Top 5 in Real Estate Network.

I have lived in Loudoun County since 1979.  I am married with two grown children and two grandchildren.  My son in law is my business partner in real estate.  I love to jog in the mornings and spend time relaxing on my Trawler during the summer months.

Loudoun County and Northern Virginia Real Estate Sales and Solutions – Helena Talbot, Broker. I specialize in helping buyers and sellers invest in real estate in the Northern Virginia area to include Loudoun County and surrounding areas including Fairfax, Clarke, Fauquier, Prince William  Counties.  Our local neighborhoods includeLeesburg, Ashburn, Sterling, Potomac Falls, Brambleton, Broadlands, Lansdowne, River Creek, Belmont Country Club, Beacon Hill, Shenstone, Waterford, Lovettsville, Purcellville, Hamilton, Round Hill and Bluemont.                        Cell 703.727.9885    Office 703.574.3800

Free iPhone/Android Mobile App to search Northern Virginia real estate.  2 easy ways to get the App:  Text “Exit9” to 87778 or enter http://87778.mobi/Exit9 into your browser.