Maybe our price was too low, that's it

By Dave Fratello | May 27th, 2007

It's been five months since you listed your house, and no one is buying. What do you do?

Try price reductions. Try re-listing to hide the history of the house.

At 579 29th St., newer construction (2002) in the Tree Section, both tactics have been tried. Since the Dec. 7, 2006, listing at $2.575m, the sellers dropped the price to $2.400m and re-listed a couple times.

Since that didn't work, here's a new approach: A $120k price increase.

That's right. A house that had been at $2.4m is now re-listed at $2.519m.

Here's a hint to Tree Section buyers in the $2.5m range... they'll take 2.4!

MBC reported a while back about two homes that tried the price-increase tactic. One has subsequently dropped $250k. The other is still sitting out there untroubled by interested buyers. So let's see what happens on 29th St. – maybe the third time is a charm.

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