Lake Oconee real estate pricing in a buyer's market

While the Lake Oconee real estate market is edging back slowly, it is still a buyer's market. In a buyer's market, listing too high can poison the market for that particular property. Subsequent price reductions are often too little, too late. Buyers and their agents may not return to the property until the price hits a point of desperation. The owner may get lucky...it happens...but more likely after the initial rush of interest the property may languish on the market for months. One home, not my listing, sold after two+ years at well under $500K after starting at well over $700K. When initially listed that home should have sold fairly quickly in the low $600's...two years later, the market had changed, offers had been turned down, and the sellers had become open to almost any offer.