Last Week Coldwell Banker announced a "10-Day Sales Event" on their listed homes. Prices were to be reduced by up to 10% for 10 days.
I mentioned it here> 10% off sale
It started on Friday October 10th and runs through Sunday October 19th. I thought it was a good idea that would get people's attention and hopefully move some homes. And that would help everyone, not just Coldwell Banker and their clients.
But looking at price reductions here in the Tucson Foothills I see just 6 Coldwell Banker listed homes that participated in this 10 day 10% off event. Not enough to make a difference I'm afraid, or to call it an event. Too bad, because there are still many homes here in the Tucson Foothills whose prices need to be adjusted to today's market conditions. And until they are, buyers will sit it out.
As Jim Gillespie CEO of Coldwell Banker said, ... our research and discussions with our brokers and sales associates shows that in many markets sellers remain reluctant to list their homes at the proper prices necessary to attract buyers," You hit the nail on the head Jim.
This Coldwell Banker sale is a national event so I have no idea how it's doing in Boise or Brooklyn, but with very different conditions in different markets across the country, maybe this type thing makes more sense and would be more effective if it were handled locally.
What if, like Democrats and Republicans temporarily putting politics aside and reaching across the aisle to solve a crisis (well maybe that's not a good example, but you know what I mean), and this is a crisis, local real estate companies took the lead and worked together in a meaningful way to tackle the problem locally and help get homes selling again. It's that serious.
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