When you're listing your home you will likely put a lot of thought into the asking price. You might look at other properties that have recently sold at The Penrose - 750 Bay Street or in your neighborhood here in Saskatoon and will analyze whether you're listing your home in a buyer's or seller's market. But even with all of that planning you still might find after a few weeks that you're not getting the proper amount of potential buyers through your home. This is when you might start thinking about lowering that price.
Before you decide that the asking price is the problem you should look at other factors that might be deterring potential buyers. Look at the other listings for homes for sale in Bolton or locally and make sure that your listing is up to par. You might want to include more information, more pictures, or just try a different layout for how you're presenting your home. You should also make sure that your real estate agent is doing all that they can to promote your property. This could be on their website or in a weekly real estate insert in the newspaper.
Once you have determined that the problem is the price you will be walking a fine line. Homes that are priced too low can have just as much trouble selling as those that are priced too high. Look at the other Toronto homes for sale and compare your own property as honestly as possible. See what your home has that the others don't and where it is lacking. Then, with your real estate agent, look into what all of these things might be worth to a potential buyer. For example, if your home is almost identical to one that sold for $350,000 but yours has issues with the roof than you might choose to list for $344,000 to compensate for that.
Real estate listings in Oakville or here in Saskatoon can go up or down quickly throughout the year. If your home has been on the market for some time than you will want to look at the current market conditions again before choosing a new price. You should also know how low you're willing to go when selling your home. In a buyer's market with Saskatoon or Vaughan houses for sale properties will usually go for between five and ten percent below their asking price. If you're not willing to accept offers this low than you might want to wait for a better market to sell your home.
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