[5-DayForum] Pricing

[Lynn Baskfield]

Hi,

We are just ready to advertise our Las Vegas home for our 5-day. Our equity
has taken a big tumble of course since we bought it two years ago. We know
we will take a loss on it and in looking at the ½ price rule, priced it at
174,500, thinking it was worth around $350,000 now.  We talked to our
mortgage guy last week who says this house is now worth about $345,000.
Would you recommend going to the next lower magic number $149,500? I know
you say you can’t go too low, but this seems really really low and I don’t
see any magic numbers between 
74,500 and 
49,500. 

 

Also, since the Las Vegas paper goes by price point categories in their Real
Estate section, and there seem to be few to no additional newspapers in
which to place ads, as per your advice, Bill, I’m thinking of placing the
same ad in 2 or 3 price categories as well as in the open house. How many
categories would you recommend? (These ads will also go online)

 

Then we’re doing a bunch of online and flyers everywhere we can think of.
I’ve also put an ad in one of the Latino weeklies as my daughter in law
speaks Spanish and she will take those calls and be with us for the sale.
I’m still not completely clear about the online advice, Bill. I intend to
put the ad in right from the book. It’s just that the online format on many
sites asks you to fill in a headline with a box for the price. Do you put
the starting price? 

 

By the way, I really appreciate the thoughtful and helpful responses from
you, Bill, to me and to others. They help me sort through those details that
come up as I prepare, along  with alleviating the jitters a little bit, as
the sale nears. I’m looking at it as an adventure. 

 

Lynn Baskfield

 

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