BrokerageIndustry News

‘Price cutting hurts all homes’

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Editor's note: The following is a comment on the Oct. 6 Inman News story, "Coldwell Banker promotes price reductions." "This is more like a race to the bottom ... price cutting just gets more price cutting. This sounds more like a revenue hunt on the part of Coldwell Banker. While many homes are indeed overpriced, price cutting hurts all other homes on the market. "While many believe we have just a supply problem, we may also have a 'demand' problem. It is now more difficult for borrowers, especially with "jumbo" financing needs or for those that need larger down payments. "The way out of this problem is much more complex than just a 10 percent off fire sale." --Vince Ciroli *** What's your opinion? Leave your comments below or send a letter to the editor. ...