Be Wary of those HUGE Price Reductions

As I check the MLS updates throughout the day, some of the price reductions just stun me. I was just checking the MLS just a few minutes ago and saw reductions from $5000 to $50,000 to even $900,000 for a place down in Edisto. It makes you wonder about why more homes are not selling with all these huge daily price reductions. it is pretty simple, the houses were way OVERPRICED from the beginning. Be very cautious not to let a price reduction get you to excited - this may be simply getting the house into the proper price range. Make sure you have a agent that does not encourage you due to the reductions, you have to know the current sold numbers and also history on the house to find that value. And in today's market you never realy know the seller's true movtivation until you put something on paper.