How Significant are Price Drops to Just Below Search Limits

No mansion tax below 1 million.

"We are already considerably below market and are not willing to sell below $940K or so which would translate to around $725 per SF."

Not true....if you were considerably below market, it would not be your apt any longer, it would have already sold.

If you are serious about selling and it sounds like you are, get it done. Mimi brings up mansion tax, which for anybody hovering around the $1M mark, is a big consideration. It will make a difference and you can make up any perceived losses on the other end.

i think it's a very significant price threshold. it's huge psychologically for many people.

get real and lower your price.

maybe you will start a bidding war.... maybe

I think if you were really serious about selling the apartment, you'd list it at $940k. It'll probably sit around until then.

MAV makes a good point. Hope for a bidding war.

Oh, and for good measure you might as well list the apartment on here to try and drum up some interest.

p09 is spot on.

sounds like you actually have a good broker. if you really do want to sell, you're doing yourself a disservice by keeping your number so high and limiting the number of people who view your property. lower it, bring in the masses. good luck!

Good idea williamsburger, what should it matter he has stated his bottom line. Nobody reads this stuff anyway.

she?

Think about what you're saying, lo888 -- you're asking a crowd of people for whom real-estate shopping is computer-driven whether it makes sense to game a computer system.

Definitely do it.

Plus, remember buyers have a ceiling of $729,750 to get a high-balance conforming loan, so every dollar they spend above that has to be cash.

ali r.
{downtown broker}

Thanks everyone. I think we will bite the bullet and do it. Hopefully we can still come out around the same level. I understand the average closing price is somewhere around 6-7% below latest list so that would work.

Let the buyers come flocking in!

Let the buyers come flocking in!

nice. hope it works well for you.

Good luck, lo888. Sounds like the right move to me.

As some of your probably surmised from my other thread, it worked! We got an all cash offer within a couple of days (and were accordingly flexible on price) and need to be out ASAP! Thanks for steering us the right way. Now you have to help us move (purpose of other thread!)