Wednesday, April 25, 2012

When to Lower Your Listing Price

Trying to determine how to price your Tulsa Home for Sale is a very important decision.  Thinking about a price reduction can also be difficult.  Use these questions when thinking about a price reduction:

  • Would you rather wait for an offer or have an offer that you can decline?
  • What is the lowest price you would accept for your home?
  • What does it cost you to own your home? (home maintenance, roofing repairs, lawn maintenance, taxes, homeowners insurance- things that won't be recovered). If those things are costing you $2000 a month and it takes 6 months to sell you will have spent an extra $12,000 versus reducing the price by, say $10,000 and possibly selling soon.  In 6 months you may wind up facing the same reduced price (by $10,000) and then already have spent the extra $12,000. 

Remember that pricing your property correctly from the start is the best choice. Make sure it is priced according to the market.  A good realtor will be able to price your property, with experience, market information, and knowledge of what buyers want.

For Bixby real estate, contact Darryl Baskin of The Baskin Real Estate Specialists at 918-258-2600 or

Interested in a Tulsa mortgage?   Contact Steve Currington of Currington Mortgage at 918-394-5626 or

No comments: