Sellers lowering their prices for a 10-day event
Coldwell Banker said yesterday that home sellers across the country will lower their asking prices by as much as 10 percent during a sales event running Oct. 10 through 19. In Baltimore and its five surrounding suburbs, more than 300 sellers have agreed to lower prices “significantly,” Coldwell Banker Residential Brokerage Greater Baltimore told me.
"This is a really neat, interesting, good opportunity if you've been waiting, watching prices," said Melissa Brever, marketing manager with the Greater Baltimore company.
The local breakdown, in case you're interested: 102 participating sellers in Anne Arundel, 79 in Baltimore City, 71 in Baltimore County, 14 in Carroll, 34 in Harford and 16 in Howard.
Tip of the hat to Wonk reader John for giving me a heads-up about the announcement.
Coldwell Banker said three-quarters of its U.S. agents surveyed recently believe most sellers have “unrealistic expectations” about price, but an equal amount think a reduction of 10 percent or less would be enough to interest buyers. (Almost 80 percent "agreed that homes in their market that are priced appropriately are attracting more buyers and moving more quickly," the company says.)
So, potential buyers, here's an unscientific survey: What sort of reduction would it take for you to do a deal? Is it price or something else keeping you from signing on the dotted line?