Could this indicate a change in the market?

By
Real Estate Agent with Riverside Homes

The recent CRS newsletter, Member Connect, just reported that "Home Price Reductions Fall to All-Time Low About one in five residential property listings (19 percent) on the market as of March 1 had at least one price reduction, down from 21 percent at the beginning of February, according to Trulia’s March 2010 Price Reduction Report."Graph

Additionally I discovered by reading this article that Trulia has been tracking these first time price reductions since April 2009.

Could this drop in price reductions reflect the fact that we are pricing our listings better at the get go?  Or, perhaps underpricing all of the short sales and foreclosures that we are listing? 

I've noticed that the underpriced distressed homes in St. Augustine have been encouraging bidding wars.  When agents are listing distressed homes for sale in St. Augustine, are they pricing them too low?

 

Posted by

Marjorie Taylor, REALTOR

Marjorie Taylor, is a licensed Real Estate Broker representing Riverside Homes  and is a Certified Stager with VIP Staging and Home Management.  A community leader, active in the St. Augustine Regional Council, Taylor is past Director and Technology Committee Chairman of the St. Augustine St. Johns County Board of REALTORS.  A Certified Home Stager, she is professionally educated and trained, having earned the designations of CDPE, CRS, CSP, e-PRO, GREEN, GRI, TRC.  View the Model Homes in St. Augustine

Marjorie is passionate about St. Augustine and the needs of her clients. Past recipient of the Entrepreneur of the Year - Women’s Council of REALTORS St. Augustine Regional.

904-591-9121

MTaylor@MyRiversideHome.com

MyRiversideHome.com

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Rainmaker
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Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

This does give one some pause to reflect doesn't it?  I know that I for one am ready to see things creeping back up.  This has gone on long enough!  :)

Mar 18, 2010 01:08 AM #1
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Rainmaker
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Marjorie Taylor

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