Need to lower your asking price?

Wondering if you should lower the asking price on your home? While there could be any number of reasons why your house isn’t selling, your listed price should be examined. Here are four signs that the amount you’re asking for is too high. 1. A month or more of no offers If you’ve had a number of showings but not even a single offer, chances are you need to bring down your price. 2. A month or more of no showings If no one is even coming to see your home, despite the very best marketing efforts by your real estate agent, it’s more than likely that your requested amount is too high. 3. Nearby comparable properties priced lower Take a look at what other houses are selling for in your neighbourhood, especially those that are of a similar age, style and size as your own. If they’re priced lower than your home then you can safely bet that potential buyers are going to be moving in elsewhere. 4.Newly constructed options exist nearby Newly built homes in your area that are priced within the same range as your own may be luring away buyers. Not only are you competing against the gleam and sparkle of unblemished surfaces, but also against the additional incentives many developers have to offer. A new build can include stainless steel appliances, a sunroom, a finished basement and even closing costs. To stay competitive, you’ll need to bring down your price.