Let’s put that myth to rest. Properties are selling in the Charlottesville/Albemarle area … but –
Two properties clients of mine were interested in recently went under contract.
What made them sell?
Property #1 – in the City of Charlottesville (property links will expire in 7 days)
Came on the market in March – asking price of $199k. One moderate price reduction in September. One dramatic reduction on 30 October – four offers followed.
Property #2 – in the City of Charlottesville
Came on the market in February for $630k, $50k price reduction in March. Property expired and went to another Realtor – new asking price of $489,9k. A few moderate price reductions leading to the final one to $375k. The property went under contract seven days later.
Lessons learned –
1 – Price it right from the beginning.
2 – If the market says the price is high, reduce it. Beat the market down, don’t chase it.
3 – Sometimes, what the Realtor is doing is not the problem – it’s the price.
4 – This is the hard part – try to maintain objectivity. What you need to make to buy the next house is irrelevant to what your home is worth today.
5 – Both clients found me because of this blog.
Point of clarification: we wrote an offer on the first one and “lost” and serendipitously never made it to the second.