I was on a listing appointment this morning on Hilton Head and the owner of the property mentioned to me that the villa three doors down from hers was listed at $450,000.  I told her that it had just been reduced and she could not believe the new list price.  She said that the owners of this property had originally priced the villa so high that Realtors had lost interest – she thought that no one took them seriously.

She went on to say that if they had listed their villa at that price originally,  it probably would have sold in the first month.  There is a lot of truth in what she was saying – so many people chase the real estate market down – keeping them one step behind. 

This is a common mistake in real estate.  Don’t chase the market down; if you list your property for sale, price it where it will sell in today’s real estate market.