LOWERING LISTING PRICE OF MEMPHIS REAL ESTATE

Many Memphis home sellers are wondering when and how much to lower their listing prices in order to sell their homes. Memphis is not a market where home values shot upwards each year, which is why the seller's dollar goes so far in purchasing Memphis real estate.
It may be time to "get real" about pricing to sell, because it seems like buyers are shopping less with emotions and more "looking for the best deal" in mind. For that reason, it may be time for a seller's reality check before their home sits on the market for too long. The following may be signs of being overpriced for the current market:
1) Very few or no showings. The first couple of weeks on the market is the best time to be priced right along with having your home in order.
2) Some showings..but no offers.
3)Similar homes in the area selling for less. The median home selling price must be continually monitored and your home's asking price must be in line with current home selling prices.
4)Repeated negative feedback. In this case, the seller either needs to correct issues causing the negative feedback, or if not correctable, the change the asking price accordingly.

In this market, it is easy to "blow it" by overpricing.