I recently spoke to a friend of mine who is one of the top real estate agents in Colorado.  She said that selling in a slow market is like standing in the grocery store line; it is a very long line and people keep cutting in front of you.  In theory, as long as people keep cutting in front of you, you will never reach the front of the line.

Being in the middle of the pack will not help you sell in today’s market.  The only thing that sells is the the property at the front of the line. 

For example, say there are 25 Evian Villas listed for sale on Hilton Head.  They are all about the same floor plan with similar views all built about the same time.  The only one that is going to sell is the one that is the best value or with the best sales price.  If you are the 12th best priced Evian out of 25, you have 0% chance of selling. 

The problem is, Evian Villas are coming on the market so people are “cutting in line” and getting in front of you and then people who are behind you in line are reducing their price and also moving ahead of you in line.  Keep in mind, being 3rd out of 25 is the same as being 25th – you have no chance of selling unless you are at the very front of the line.  Even if you reach the front of the line, someone from behind you reduces their price, gives a bonus, replaces their carpet, remodels their kitchen and you are back to being 2nd in line.  Remember, the only person that checks out if the first person in line.