Rusty's Blog

  I recently read an article in the Sarasota Herald-Tribune
  about dropping home prices. 

  It reminded me of advice that I have given over the thirty 
  plus years of being in businesses related to real estate.  
  I’ve taken my own advice, at least concerning what I’m 
  about to say, and have been very glad that I did.

  The advice that I’ve given (and also heard from real estate 
  people) is that, in a falling market, it is important to price 
  your house significantly lower than other similar homes.  
  In a poor market it is essential to get the attention of the 
  relatively few buyers, who are looking to buy.  If you don’t 
  get their attention, the great likelihood is that your home 
  will just remain on the market with the others that are 
  similarly priced.

  The problem is that this situation can go on for years.   
  Then, when you absolutely do need to sell, you’ll have to 
  list the house to get attention, and this price will be much 
  less than you could have sold it for when you first listed 
  it for sale.

  Two years ago I wanted to sell a second home that I had 
  in Colorado.  I listed it significantly lower than the other 
  houses that were for sale.  It sold quickly in a bad market. 
  I have been glad for these two years that I followed my own 
  advice, because the market has only continued to get 
  more depressed.

  I hope you find my thoughts both interesting and maybe
  even provoking.

  Many blessings to you and yours in the New Year!

  Rusty Blix
  Adminstrator