Priced to Sell
Priced to Keep
This is one of my Canadian friend's rule of thumb on pricing, and I fully agree. In any real estate market cycle, this rule of thumb works. It's one of the keys to the success that I have had at liquidating properties for owners or banks who MUST sell.
Too often I believe we all forget about the dynamics of selling real estate. It is everyone's intention to sell a house at absolute top dollar and then buy a house in perfect condition for the absolute lowest dollar. It rarely ever happens this way. More often than not, home owners end up having to reduce the price because the idea that "someone will come along and just fall in love with it" never happens. Frustration sets in and the price…