SD Realtor, my neighbor has tried to sell her house for a couple months. She held several Open Houses herself, and I spoke with her once for over an hour during one of these events, and nobody came by. I left her a note last week, explaining that she was priced too high, with the following recommendations from http://www.bubbleinfo.com: if you get no traffic, you are >10% too high, if you get traffic and no offers you are 5-10% high, and if you get offers you are in the right range on pricing. She still has not dropped her price, and she is about 25% too high in my opinion. The other neighbor has dropped twice, by $5K or so each time. That one is an inheritance sale, so they are not in a hurry. I am amazed at how slow sellers are to catch on to the falling market. Now I understand why RE is sticky on the way down; it is stubborn sellers.
