Price Conquers All
If Knoxville sellers won’t listen to us Realtors, maybe they’ll listen to Glen Reynolds:
“A STREET IN MY NEIGHBORHOOD HAS HAD FOUR HOUSES FOR SALE for a long time. Last week they all sold. Hardly evidence of a trend by itself, but there is this report: “Sales of existing homes in the U.S. unexpectedly rose in February for the first time in seven months, easing concern credit restrictions and falling prices would hurt demand.” Most of the houses in my neighborhood dropped their price. My sense overall is that homeowners are much too slow to drop their prices in a bad market — people can accept that a stock might be worth less than last year, or worth less than when you bought it, but they seem to have a hard time mustering the same acceptance where a house is concerned. But drop the price, and it’s more likely to sell. And that’s what people will have to do, I think. Perhaps they’re catching on.”
Yes, perhaps they’re acknowledging one of the only universal truths in real estate:
Price conquers all!
Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
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