PRICE IT RIGHT FROM THE START AND MAKE MORE MONEY.
Selling in six months or less is the goal of every home seller and best for the psyche and the wallet. Once committed, about one third of the sellers will reduce their original asking price within two or three months on the market. Without an offer, the question is, what can I do? Price has to be considered.
Market turnover in Lake Arrowhead is about two months during which the shoppers are making a selection or left the market. The rise and fall of offers and closings tell us what the buying public thinks.Sellers need to match the cycle with reflection on how each new listing and sale impacts their listing offer. How many showings were there? How often was the home viewed on the internet? An offer? Any hot prospects? What is the competition selling for? Discounted? What’s the trend? What is the price / quality of new competition?
66% of listed homes sell in less than six months, 25% in the next six, and the balance of the 193 sales are a see-saw as the last four months are uncertain. The red line is telling us that the sale price gets lower as time goes on.