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July 2006

Down Down

Over the holiday we dropped the price on the house again.

When we first priced it we priced it several percent less on a cost per square foot basis than the last few houses in the area that had sold, which was also below the going rate for houses on the market at that time. We still got very limited foot traffic. One or two showings a week.

After a month we dropped the price 10K. It took a week or so, but then we saw a significant increase in traffic. Up to about five or six people looking at the place every week. But no offers.

So now that it has been another month we drop it another 10K. Yes, we could leave it where it is and just presume the right person will eventually come along, but we just can’t afford to wait month after month for a sale, so… drop the price.

Hopefully we’re getting close to the pricepoint where we will get an offer sooner rather than later. Next week the moving trucks will come and all of our stuff will be gone, and WE will be gone. We need to then close that chapter of our lives quickly, not drag it out all summer.

Of course, we are not alone. It isn’t like everything else on the market is selling and we are not. The market is just very very very slow. And prices are dropping. Which sucks. But that’s the way it is. We’re still in the overall profit zone though. So as long as it sells soon, I can’t complain too much.