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Today we are discussing how to navigate price reductions in the West Central Michigan real estate market. There is a good possibility you will have a reduction at some point, with all the different things that can happen in the market.
The number of foreclosures and the number of buyers are just a few things that can cause the market to shift and leave you with uncertainty as to when your home will sell.
If you are not under contract in the first 30 days of being on the market, it’s beneficial to consider a price reduction between 2-5%. The longer your home sits on the market, the less money you will be able to command for it. Buyers will also start to question why the home is sitting.
To assure that you’re going to continuously maximize the price you get from the market, we recommend that you don’t sign any listing agreements longer than 90 days.
If you have any questions for us, or want to learn what we can do to maximize the sale price for your home, give us a call or send us an email. We would love to hear from you!
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