fsbo w/mls listing when to reduce???
We have had our home on the market since March 8,2012. We originally decided to price our home a little higher to see if we would get any traffic at that price and reduce if not. In the first few weeks we had several showings all with positive feedback so we decided to stay at our existing price. There were a few lookers, re-lo, first time home buyers, etc. It seems that the general consensus was that they loved our home it was staged perfectly for showings, super clean, well-maintained, and some even asked if we had used an interior designer so I know the home shows well. The only problem was that most couples it was their first home and first time out looking and the wanted to be sure they were making the right decision. Two couples each had 3 kids and loved the home but wanted a game-room area for their children.
Since listing our home we've received one incredibly low ball offer (less than what we paid for the home), and two offers around $25k below our reduced asking price with contingencies of them selling their current home.
We aren't exactly in a hurry to get out of our home it is more a matter of convenience. My husband took a new job and the commute (hour and 1/2 most days) is beginning to wear on him.
We live in a very nice town/area and have made a lot of high end improvements to the home since purchasing and feel that our home is worth its current asking price (new wide plank hand scraped hardwood floors throughout first floor, all new paint, new kitchen cabinets, granite, new fixtures, lighting, fully landscaped front and backyard w/new sod and plants, new spa cover,etc. ) Our home is on a cul-de-sac and also backs up to a private greenbelt ( no neighbors behind). We're considering reducing another 10k but that is almost the number we need to get out of the house after closing fees, buyer's agent commission, etc. Another problem that we have is two houses in our neighborhood were recently dumped for not much money due to sellers needing out fast. These homes have been used as comps but the home/ lack of updates don't even compare to ours. I don't want to get in a situation of making constant reductions and fear that since 5 weeks have already passed that we are no longer hot on the market. Any advice?
Here is a link that might be useful: Link to our home's MLS listing