Question:
“I’m asking $799,000 for my mother’s house, but getting no action. What do you think of a reduction to $789,000? Is that enough?”
Answer:
As a general rule, if your home has been listed for a few weeks and getting low activity, you need to adjust 3-5% to see a noticeable increase in interest. What you’re proposing is just over 1%, so it isn’t really enough.
Again, I don’t know the value of your home, so 3% may be fine. Or it may need to be a much bigger adjustment to get it closer to market value.
