Price Reductions

If you have been reading my blog or Rocklin & Roseville real estate column you know that I have been saying there is pressure on sellers to lower their price to get showings. After talking with two of my listing clients we have made decisions to lower the asking price on their property.

The first property we lowered is a new listing, it has been on the week less than two weeks and although we have had a fair amount of activity, we have not had an offer and do not have any solid prospects. This is my current short sale opportunity, Roseville Street, and we have a strong need to move this one along so we have reduced the asking price to $249,000. It would be a great house for a single parent, young couple or even an investor as I think you could rent this completely remodeled home easily.

The second property, Tanus Circle, in Rocklin is a different story. We have had this home on the market for months and the sellers have been reluctant to lower the price because they have added so many upgrades and improvements they feel the home is worth more than some of the other property in their neighborhood. Unfortunately, most of the homes in their neighborhood were built in 2004 and 2005 so most of them, if not all, are now worth less than the original owners paid for them. After a number of short sales, the overall value of the neighborhood has dropped. My clients are dropping their asking price by over $44,000 to $449,900. This is a great neighborhood in a nice Rocklin location and at this price the buyers will be getting a beautiful home that compares very well to more expensive homes.