First make sure your Realtor is properly marketing your property online. Make sure your property is listed on Paragon, Trend, Realtor.com, Zillow.com, Cyberhomes.com, Trulia.com, Backpage.com, Craigslist.com, Google Base, Oodle.com, Americantowns.com etc etc... If after all else fails then yes in this market lower your price to your rock bottom and hold steady, either that or raise the commision, throw in a bonus for the selling agent, or pick a dollar amount and lower the price of the property every Friday. As an example instead of lowering the property by 5000 every 30 days, lower it by 1250 every week, this will keep the property on the hotsheet and let every one know how agressive you are in selling the property.

Hi John,

I have not seen your house but I would agree that the under $200,000 price will attract more buyers. Particularly first time home buyers whose budget may limits them to a maximum purchase price of $200,000.

Best wishes,

Matt

We lowered the price from 215 to 199. Assessed recently (February 2009) at 234. This was the highly recommend price by our realtor. He considers it a bargain at 199 and thinks it will tap the under 200 buyer which seems to be a sweet spot. Do you agree?

Hi John,

Best wishes to you. The National Association of Realtors says that you should have one to two showings a week and 1 offer for every ten showings. If you are not getting these results you need to reduce the price. Please contact me for any additional questions.

Best wishes,

Matt

John:
You do not say if you are listed with a Realtor, if you are he will be able to guide you regarding price.
If you are selling on your own, you should check with your local county clerk to verify sales in your area in the last 6months this will confirm that you are priced right.
Have you had any traffic ,if no it may be because you are not priced right and no one wants to look at an overpriced property.
Lastly is your house STREET PRETTY, does it look well groomed and is scrubbery trimmed back is the lawn mowed etc.
Hope this helps
If you would like any additional information feel free to email me at "mjr@ocnj.com"
Mike Rayno

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