"CAN I SELL NOW?" (What’s The Market Saying?) "What Price Can I Get? "
"How Long Will It Take? "
"Who Determines Price Anyway?"
In Other Words... "I NEED THE STRAIGHT SCOOP ON PRICING!"
Here in Massachusetts, as in other parts of the country, the market for sellers is clearly not what it was last year. Many consumers (and agents who haven't been in the business very long) are saying that it's a bad market for sellers.
I disagree. It's a normal market. It's just that what we've had over the last five years is what was not normal!
It's not normal for a home to have 5 competing offers the first day on the market. It's also not normal sell a home you bought only one year ago and walk away with a 40% profit.
What we're seeing right now is a moderation in housing prices and more reasonable Days On Market figures. Unfortunately, many sellers have not caught on that this is not the same market that their neighbors experienced last year and will put their homes on the market clearly overpriced. And their homes will sit.
To get a refresher course on pricing, check out Pricing Your Home To Sell.
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I agree! We are moving to a more normal market in the Tampa area, though to many sellers it seems that doomsday has arrived.
Fortunately, you can mitigate any problems with your sellers by giving them straight, honest information up front. Show them where the market IS, not where it WAS.
Thanks for the good post!