When to reduce the sales price???

[Michael Bennett]

When is the right time to reduce the sales price on a listed property? We have had a house listed on the market for about two weeks now in Tulsa, Oklahoma. The bank appraised the property at pre-renovation for 200k. We listed the property for 210k. We listed the price kind of high with the strategy that some one would come in with a offer on the low end and we start the negotiations from there. As of now we have had very little interest but no offers because the “price is too high.” We are also aware that this time of the year is not the most ideal time to buy a home. At this point should we wait a little longer since this is the slow season or should we think about lowering the price sooner than later?