Pricing a property correctly is so critical in today's market. A home priced above "Market Value," will isolate the home from the market and will end up loosing more money for the home owner. The term "Chasing the Market," is exactly what homes that are incorrectly priced end up doing. Chasing the market is pricing the home above market value, and slowly doing price reductions. This method of pricing a home is not financial responsible because by the time the price is lowered though using price reductions the market price has gone down and will cause a sale at a dramatically lower price than if the home was correctly priced from the beginning.
