Ox do not just reprice your home without doing it correctly. It is somewhat disconcerting that this advice was not given to you when you first listed the home rather then right now. Also know most of the homes for sale on Serbal are not REO sales. Some of them are regular resales, some are short sales, maybe 1 or two is an REO. I have to check.
Consider to ask your agent to send you the SOLDS for comparable homes in the past few months. You need to look at that. If that is not available because of no sales then look at the PENDINGS. Call the listing agents for those to see what you can get. Think about getting an appraisal done because here is something else you are not considering. No matter what you LIST your home to sell at, if a buyer comes along and it does not appraise, that buyer may back out of the deal.
Finally have you gone out and visited the homes that are competing against your home? Ask your agent to bring you out to see them to see what you are up against. Then you should think about what you need to do to make your home show better and/or undercut them in price.
Don’t just lower the price to lower the price. Due your diligence, then lower the price accordingly.
Unfortunately the first few weeks are the most crucial time of the listing. However if you price competitively and you are firmly aware of the comps and your competition you will sell your home.
