A few posts back I wrote this:
If you are in the position of selling your home you must evaluate your situation. If you just want to sell but don't need to sell you should be resigned to the fact that your home will sell but for less than you thought, maybe even much less than you thought. Depending on when your "buy side" was, you may lose money, break even, and there are still those who can and do profit. If you don't buy into this reality then maybe it's time to take a break and get out of the market for a while.
I'm working on a sale right now that proves the point. Property was puchased in 2003 for $450,000. The owner transfered out of the area, home was on the market for nearly a year, and it was initially listed in 2007 for $675,000. The owners wanted to sell, they didn't need to sell. We negotiated a price below their purchase price. They will take a substantial loss.
In the same post I also wrote this:
If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.
Along the selling timeline the price was steadily reduced chasing the market down. There were some offers along they way that were not accepted. If this property hit the market at $575,000 initially I suspect it would have been sold long ago and at a higher price likely for a profit less months of carrying expense.
If you must sell your home price it right and look at that first offer long and hard. It's usually the best one you will get.
