No, this is not how to do price cuts

84 Hunting Ridge Road, a 1958 home lacking central a/c or pool but boasting that it’s “perfect for leisurely walks on a freshly paved country road”, cut $25,000 from its price today: $1.484 million to $1.459. Even with fresh macadam as an inducement, I worry that this modest reduction may be inadequate to achieve the owner’s presumed goal of selling the place.

The house has been on the market, off-and-on, since 2016, when it started at the surprising number of $2.7 million. It began again in 2017 at $1.795, and has been dropping ever since in 1%-1.7% increments.

Trust me on this: a buyer who is resisting the charms of your house is not going to be tempted by a one, even two percent price concession — their offers on a house they do like might, in normal times, start 15%-25% below ask anyway. And since these are not normal times, and houses are selling at full price and above, the absence of offers for your home means you are wildly overpriced; $25,000 off won’t do it.

zebra

zebra on acid

waiting for wagner