I’m moving from Northern CAL (previously hot market) to Phoenix (also a market that has peaked and turned downward.) There is so much inventory in my city that I priced my home 50K below recent sales. None of my friends’ homes had showings, and we had 13 in 2 weeks, and still sold 12K below asking price. Now I’m looking at AZ, and there are a TON of homes for sale, and I’m seeing a lot of “Price Reduced” signs. But still, a lot of homes are priced at the same levels from a year ago (which is too high.) If someone wants to sell, shouldn’t they be advised to list at a lower price? That’s what my CA agent told me, and I sold in 2 weeks.
