Here is a hot tip to sellers of Palos Verdes real estate. Pricing your property realistically will net you more dollars in the long run than over-pricing your property and then reducing downward to get buyers interested. The majority of home buyers start their home search on the internet (in some cases they have been researching for months before they actually physically visit at any properties) and they are very aware of what the sales price for your home should be. If you are not a serious seller, they will pass you by.
There are two recent studies that support this. According to an article in the Los Angeles Times by Mary Umberger, “If you’re considering listing your house and you’re serious about selling, you’re better off being realistic (about price) right from the get go.” Both studies cited show that a seller gets four times as many online views the first week compared to the second week. If your biggest audience is available to you in the first week, why would you test the market with a high price and lose out on all those potential buyers?