I had lowered the price from originally $749,000 to $599,000. The other houses on my street (waterfront) are currently $749, $795, $850, $890. So I would say I tried that strategy.
As for equity: I paid $385,000 but I bought the house from a bankrupt builder so it still needed a ton of finish work. We have about $120,000 into it. But I have a 1st of about $300 and a 2nd of about $75. And I took $520. So I’ll clear $140 before commissions and transfer costs. All in all I guess I’m about even to a small loss? Not bad I guess.
I tried to cut the timeframe shorter. I even offered to lower the price if they would settle sooner. But they’re scared too that they won’t be able to unload their house. It is, after all in the same nieghborhood as mine so they have to face the same market.
