Do you want to SELL your home (or land or other type of property) OR do you just want to LIST? If you don't really have to sell now, perhaps you shouldn't be in this type of market.
Buyers are reluctant to commit themselves because they think prices will go lower. Financing has tightened and standards are higher disqualifying marginal buyers. There is a glut of homes for sale. The market is flooded with homes in many areas. Foreclosures are increasing which drives prices down because sellers and lenders HAVE TO SELL quickly.
Overpriced listings have to compete with much lower asking prices on similar properties. How can you attract potential buyers if there are numerous comparable homes for sale with considerably lower asking prices? You won't even get offers. Very few buyers will even look at yours and if they look they will go back to the other one with the much lower price and LOWBALL that one. You won't even get the opportunity to get the lowball offer and an opportunity to negotiate. Yes, that's what's happening now. You need a low asking price to get a lowball offer.
So, if you just want to list, your home will just take up space in your broker's inventory, in the MLS, and the internet. If you want to SELL, put a fair asking price on your home, give some incentives to buyers, and be prepared to go even lower when negotiating an offer. Be aggressively motivated, be realistic, and your home WILL SELL.
Contact me for a Free Consultation. 352-373-3783.