From the Doctor, Tough Medicine For Sellers: Forget About Last Year, Lower Your Price

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Dr. Housing Bubble is a blogger with a sense of humor, and we particularly enjoyed his post this weekend titled, ‘Putting Home Sellers on the Couch: The Psychology of Why Sellers Refuse to Lower Prices.’

Examining sellers who are in denial and refuse to cut their prices, the Doctor observes, ‘They are pining for the days of 2006 as if it were a lost high school love interest.’

The Doctor’s advice: Forget what the neighbors got for their house last year. Last year is gone. Ask yourself these three questions:

1. Am I not marketing the property correctly?
2. Could it be that the price is too high for the current market?
3. What can I do to make it sell given the current market sentiment?

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Photo Credit: Reuters