How much should we reduce our home by? 10 showings, no offers, on market for a week

We already purchased another home and we are motivated to sell our old place which is now sitting empty. We listed at 599k, based on comps from our realtor over the past year (5 bed, 3 bath, 3 acres and move in ready). The market is definitely cooling in our area, but we still had some interested buyers. Offers were due last night. Two agents were pretty sure their buyers would be writing offers, but we didn’t get any, so our realtor was going to follow up with them too. The main negative feedback we got was- 1) buyers didn’t like proximity of shared dirt driveway to the house (which we anticipated, and there’s a legal option recorded which allows buyers to unilaterally move the driveway if they wish) 2) no cable internet (nothing we can do about that) and 3) price was too high. There was a lot of positive feedback about the house itself, with all the agents saying it showed really well. We are thinking about dropping it to 565k, but don’t really have a rationale for picking that price, besides the fact that we want to go low enough to show we are motivated to sell, without looking desperate. Suggestions?

submitted by /u/schwawannabe
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We already purchased another home and we are motivated to sell our old place which is now sitting empty. We listed at 599k, based on comps from our realtor over the past year (5 bed, 3 bath, 3 acres and move in ready). The market is definitely cooling in our area, but we still had some interested buyers. Offers were due last night. Two agents were pretty sure their buyers would be writing offers, but we didn’t get any, so our realtor was going to follow up with them too. The main negative feedback we got was- 1) buyers didn’t like proximity of shared dirt driveway to the house (which we anticipated, and there’s a legal option recorded which allows buyers to unilaterally move the driveway if they wish) 2) no cable internet (nothing we can do about that) and 3) price was too high. There was a lot of positive feedback about the house itself, with all the agents saying it showed really well. We are thinking about dropping it to 565k, but don’t really have a rationale for picking that price, besides the fact that we want to go low enough to show we are motivated to sell, without looking desperate. Suggestions? submitted by /u/schwawannabe [link] [comments]

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