At this point I know I am sounding like a broken record, but I think it's beneficial to all the rich kids out there, both buyers and sellers, to be consistently updated on how the market it trending. Like I've said many times, if you are selling or buying a home that is done, well priced, and in a decent neighborhood it is going to sell quickly. This trend fully encapsulates the mind set of today's buyer. They are savvy, have done their homework in tandem with their agents, and are ready to pounce the moment that there is a good deal to be had.
There are definitely listings that have more challenges than others. For sellers, I would play "Devil's Advocate" with your home. I know that we all can be very sensitive when it comes to this subject, but this is something that needs to be examined when you are ready to sell. If you have a property that is special, done, in a centrally located neighborhood and it's been on the market for over thirty days without offers, it is overpriced. If your property has deficiencies such as location, condition, etc than the price should be adjusted accordingly to compensate for this issues. Assuming that the property is being properly marketed, I promise you that the interest level from buyers/agents will tell you all you need to know.
Sellers, should you have to list your home at a price that is commensurate with the market, but in your heart you feel like it should be listed for more, don't head for the nearest bridge just yet (...and I don't mean for you to jump off of but rather to send your real estate agent for a "little swim"). If you are purchasing a new property, what you may lose in the sale of your home, you should ultimately be able to make up in the purchase. When I see what is available in this market for around a million as compared to a few years back, it's enough to put a smile on even the biggest skeptics face!
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