Lifehacker agrees: set a realistic home price to attract buyers in critical first week

Everyone wants to get the top dollar for their home but setting a high price and expecting potential buyers to haggle you down to a reasonable one is a sure fire way to scare them off before they even contact you.

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This is a perfect time to re-post my article examining the hard numbers from last November.

Sellers have been hearing for years that there’s a danger to overpricing.  Namely that after a few price reductions and a long time on the market that the eventual sale price will be lower than if the property was priced right from the start.  New tools allow us to examine the list price vs. sale price ratio for properties that have had no price changes against properties that have had one or more price changes.  Follow along as we look at Uptown and the entire City of Chicago.


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