real estate: Where is Market Value?!
- 12/29/08 03:30 AM
The historical definition of "Market Value": "What a willing and able buyer is prepared to pay for a property". Traditionally, sellers have set their prices based on either their competition, recent sales activity or a combination of both. Historically, this information was provided to the Seller by a real estate agent. The internet created a paradigm shift of access to information that has changed the real estate business for everyone. Today, as consumers garner information, they have the resources to flex their shopping muscles and dictate sale prices. Since the Wall Street collapse, many buyers have been reticent to pull the … (1 comments)
real estate: Who are the Joneses, and why is everyone trying to keep up with them?
- 10/20/08 04:15 AM
As we are celebrate Thanksgiving this month and with the recent crisis that has caused many to rethink what is important, I have been opining on a thought. It is not meant to judge or critique, just observations. My clients are am confident that I served them to the best of my ability, taking a long-term approach to home ownership. The complexity of the current crisis has been illustrated by smarter people than I. However, I believe this is a crucial part of the dilemma. It used to be that spending money on status symbols for the sake of flaunting your … (1 comments)
real estate: The JUMBO Effect
- 09/29/08 03:43 AM
The past few weeks have been fraught with hysteria, calamity, fear and anxiousness. We could all use a little good news couldn't we? I believe one of the factors that will bring health and balance to our Eastside market is the resizing of the Jumbo Loan... actually the fact is that the conforming loan is getting bigger. Allow me to explain. Prior to the first stimulus package the maximum loan amount for a confirming rate was $417,000.00. When the Congress and the President signed the first package there was a temporary ceiling (expiring December 31, 2008) on the maximum to $567,500.00. … (0 comments)
The historical definition of "Market Value": "What a willing and able buyer is prepared to pay for a property". Traditionally, sellers have set their prices based on either their competition, recent sales activity or a combination of both. Historically, this information was provided to the Seller by a real estate agent. The internet created a paradigm shift of access to information that has changed the real estate business for everyone. Today, as consumers garner information, they have the resources to flex their shopping muscles and dictate sale prices. ;)
;)
