Lets brain storm about buyer’s market definitions for CMA’s or if you are talking to sellers or buyers remember to call them competitive market analysis or market analysis. I know you’ve heard me say there are so many homes ON the market and a few homes IN the market. So here’s a low down on the current status of homes and properties today on the market and in a market. When you review Actives (for sale listings), Pendings/sti (listings with offers), expireds(listings that didn't sell) and solds (sold listings)remember these things. Actives- homes that haven’t sold especially if they have been on the market over 2 weeks, they are like the new expireds in a buyers market. These are homes that are just on the market. you have 2 choices right now as a seller! you can price a property to sell or price it to sit! STI/Pending- Homes that have offers (smart enough to price it to sell and to work it out) These are the homes/properties that are IN the market! When using pendings and STI for pricing make sure to look closely at there market time- if there market time is 30, 60, 90 or more days- I bet they didn’t sell for full price! Solds are Past history- Not reliable for pricing (maybe within last 1-2 months) not further- sold are past history! Expireds- (never never land listings)- were just on the market- taking up space polluting the market. So hopefully this low down has shead some light.. Just keep in mind we want homea that are priced IN the market we don’t want home and properties that are just ON the market. Let’s sell some houses and move some families! challenge of the week- sending 3-4 thank you cards a day.
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