At long (loooooong) last, we are starting to receive offers on the house. Unfortunately, the offers are low, well below our latest price drop. The house is now priced very competitively, as the low end of any comparison metric. And yet buyers still try to chip away at us.
It is encouraging to receive offers, because our last price reduction was designed to do just that. What remains to be seen is whether we can get enough offers to drive the price back up a little bit. The two offers on the table have not done that; we think there may be at least one more offer out there, and possibly one or two beyond that.
Having never personally sold a house, this is all a new and unsettling experience, especially since I thought it was a Californian's birthright to turn a huge profit on any real estate sale. In truth, we will, just not as much as we think we should have.
As Churchill would understand it, we may not be at the beginning of the end, but we are surely past the end of the beginning.
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Be sure to keep all the buyer tactics and reactions fresh in your mind as you will want to turn them to your own advantage soon when you become BUYER! This same depressed market should offer you an opportunity for a good deal at the other end of this 2-part transaction.
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