Dave W. Abdallah
  • 313.274.7200
  • Home
  • Featured
    • Single-Family Residential
    • Multiple Family
    • Land/Lots/Farms
    • Commercial
  • Search
    • Search All
    • Dearborn Heights
  • Agents
  • Site Categories
    • Blog
    • Other
      • Calculator
    • Testimonials
    • Location
    • Local Info
    • Buyers
      • Choosing a Realtor you can trust
      • The Advantages Of Pre-Approval
      • Examining A Home Objectively - What Matters And What Doesn’t
      • Home buying checklist
      • What a realtor can do for you as a buyer
      • Buying verses renting a home
      • Finding your perfect home
      • Home warranty
      • Hiring a home inspector
      • Earnest money deposit
      • Getting to know the neighborhood before buying a home
      • Home buying negotiating tips
      • How to handle a bidding war
      • Buying your first home
    • Sellers
      • Selling Your Home - Why You Need A REALTOR
      • Getting your home ready to sell
      • Eight things to consider before listing
      • Ten tips to Successfully Market your home
      • Home Selling Checklist
      • Pricing your home to sell
      • Creating curb appeal
      • Sell Your Home Fast - Five Tips To Get A Fast Sale
      • Repairs to make before selling your home
      • Avoid the most common mistakes when selling your home
      • Simple ideas to make your home more welcoming to buyers
      • Top 10 home showing tips
      • When is the right time to reduce the price
      • The downside to a sale by owner
      • What season is best to sell
      • Negotiating an owner financing purchase
    • Other Resources
      • 22 Valuable Tips
      • Our 23 Step Aggressive Action Plan
      • Local Area Information
      • 9 Reasons to Hire A Mike Ferry Trained Real Estate Agent
      • Virtual Tours
      • FREE Quick Online Home Evaluation
  • About Us
  • Proven Results!
  • Contact
  • Home
  • Site Categories
  • Sellers
  • When is the right time to reduce the price

When is the right time to reduce the price

Every homeowner must set an asking price when listing their home on the market, but what happens when you don’t receive any offers? Just as it’s important to know when it’s time to sell, it’s important to recognize the right time to reduce the price.

Supply & Demand

If a lot of homes are currently listed on the market or your home is overpriced, it may be time to consider a price reduction if you hope to stay competitive. If five different stores sold your favorite soda, what would motivate you to buy from one over the others? If you are like most, the cost would be a leading factor. The same is true with home buyers, who are looking to get the best value for their dollar.

Hurry Up & Wait

If your home has been listed on the market for what is considered to be a lengthy time for your area, it may be time to consider a price reduction. This is especially true if you are in a hurry to sell, which may be the case if you are planning to purchase another house upon selling yours. In some cases, a homeowner will make an offer on another house and that offer will be contingent upon selling their current home. When this happens, the homeowner is likely to be in a hurry to sell so that they can honor the terms of their new agreement before it expires. Real estate can often be a waiting game, but sometimes it may be necessary to hurry up the process, through a price reduction, if you need to complete the sale.

Market Value Fluctuations

We all know how the market fluctuates. If you own real estate, property values can go up one year and fall the next. If your house is currently listed and the property values have fallen, you may want to consider reducing the price in order to remain in the running with potential home buyers. If your house is priced far above market value, most lenders would refuse to approve a loan for your asking price. Having an appraisal would be one way to know how much your home is worth.

REALTOR® Recommendations

If you’ve hired a REALTOR®, you obviously trust him/her to guide you through the process of selling your home. If your REALTOR® suggests a price reduction, it may be in your best interest to consider it. Nobody knows the business like a real estate agent. They know what buyers want and, in most cases, what they are willing to pay. If you’ve trusted a REALTOR® enough to hire them, trust them enough to value their opinion.

Reviews on Zillow
1167205
"I had done a lot of research on how to choose a realtor. I created a checklist of my expectations. On our first meeting he answered all my questions ... more "
5.0/5.0
by rmniborski
1166137
"I was very happy with my experience with Dave Abdallah and his team , awesome customer service and very professional !! This has been the 3rd time ... more "
5.0/5.0
by lindacharara
1166093
"Truly the best around michigan. Dave is a very honest, hard working, and dedicated person. This man will help you sell/buy a house in no time and at ... more "
5.0/5.0
by sami jarmak
DaveAbdallahTeam on Zillow

Facebook twitter Linkedin YouTube
Facebook

Equal Housing Opportunity and Realtor

Get in Touch

Testimonials

We interviewed a few different realty companies and felt very comfortable with Dave and loved the flexib...

Continue Reading


Thank you for making the MLS services possible! We gained MAJOR & IMMEDIATE exposure with our listin...

Continue Reading


Dear Dave,

Thank you for all your help with selling our home! We really appreciated all the time y...

Continue Reading


Blog

April 18, 2018
Quick Clutter Fixes For Unexpected Showings

Quick Clutter Fixes For Unexpected Showings

When you have to continue living in a home at the same...


April 11, 2018
Earnest Money Deposit

An earnest money deposit, also known as a good faith deposit, is a specific dollar amount that a potential ...


April 04, 2018
Ways To Make Your House Smell Good

If you want a house to smell clean, you clean it.  But what can you do to add a special touch that makes yo...


Dave W. Abdallah

25636 Ford Road
Dearborn Heights, MI 48127

Phone: 313.274.7200
Phone: 313-203-8209

Email


Facebook twitter Linkedin YouTube
Facebook

Studio 11 Productions

Designed & Developed by Studio 11 Productions design copyright © 1997 - 2018

  • Powered by
  • Responsive Real Estate