We have seen numerous price reductions, sometimes for the third of fourth time, for certain properties whose owners overpriced them initially. It is critical to get good advice on pricing and price your property to the market when first listing if the goal is to sell it and not to just list it. When a property is overpriced it languishes on the market, sometimes for years, and then is dismissed by brokers as an overpriced listing. Simply put, pricing correctly diminishes the time a property is on the market.
If you would like an unbiased, accurate market assesment of the value of your property, please contact one of our brokers. Atlantic East can do a Broker Opinion of Value for your property with discretion and at no charge.