Price correct or start high in a hot market?

[Chris Kraemer]

Is there a risk to pricing high and lowering incrementally from June to August? Do you lose any type of momentum as DOM increases..or will a house sell the same once the price lowers?

[Russell Brazil]

Depends on the market, neighborhood etc. Typically in the hotter parts of my market you want to underprice to bring in the most competing bids. Over pricing in the hot neighborhoods here will typically lead to a lower eventual sales price.