When do you raise the list price of a house?

United States
January 23, 2008 3:58pm CST
I have clients that have 2 houses listed for sale. One we have listed at $149,800. They have installed new carpet and granite countertops, new paint, new windows, real nice place. Now they want me to raise the price. Honestly, I think the house with the upgrades is priced well at the $149,800. I was just informed by the sellers they took out a line of credit, second mortgage and they owe $149,400 on the house. So, I can't wait to hear from the area realtors asking why we came up in price. What do you think?
1 response
@jormins (1224)
• United States
23 Jan 08
They picked a real bad time to sell a house for profit. I think the only people buying houses right now are bargain hunters. I wonder if they can refi now that the rate has dropped and will drop again.
1 person likes this
• United States
23 Jan 08
Good point. I mentioned that to them yesterday. They are going to call their friend a lender that hooked them up with the 4 mortgages they currently have, 1 residence and 3 investment properties. I sure want it to work out for them and for me. Thanks for your response!