Seattle rental price drops
I have been following rental prices on Zillow for a few months as I prepare to list my starter home for rent. It's a beautifully remodeled 3/1 in a nice part of NE Seattle. I have a price in mind, and think it is a decent/reasonable price. But, I'm a little nervous about this trend: I've noticed that many rental listings were overly ambitious with their price at first, and they've been sitting and steadily dropping their price. For example, 3 bed/2 bath houses have started out at $4000, then sit for weeks, dropping the price regularly. Many of these are professionally managed properties, so one would think they'd know better. Is this normal for Seattle? I haven't been following this particular feature long enough to know. I think it makes the listing look bad...