Wednesday, June 19, 2024 / by Dick Keenan
If you’ve been following the news about home sellers cutting prices, it's a classic case of headlines being more alarming than informative. Here's the real scoop on home prices.
The main takeaway is that home prices are higher now than they were a year ago and are expected to keep climbing, though at a slower rate.
A recent article from Redfin states,
“Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.” This might make you think prices are falling.
It's true that Realtor.com’s latest report shows 16.6% of homes on the market had price reductions in May, up from 12.7% last May, but this doesn’t mean overall home prices are declining.
The key is understanding the difference between the asking price and the sold price.
Understanding Asking Price vs. Sold Price
The asking price, or listing price, is what a seller hopes to get when they list their home. Sellers can’t just pick any price and expect top dollar. ...
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listing price, home value
Thursday, January 7, 2021 / by Traci Pimentel
It’s exciting to put a house on the market and to think about making new memories in new spaces. However, despite the anticipation of what’s to come, we can still have deep sentimental attachments to the home we’re leaving behind. Growing emotions can help or hinder a sale depending on how we manage them.
When it comes to the bottom line, homeowners need to know what it takes to avoid costly mistakes when it’s time to move. Being mindful and prepared for the process can help you stay on the right track when selling your house this year.
1. Price Your Home Right
When inventory is low, like it is in the current market, it’s common to think buyers will pay whatever we ask when setting a listing price. Believe it or not, that’s not always true. Don’t forget that the buyer’s bank will send an appraiser to determine the fair value for your house. The bank will not lend more than what the house is worth, so be aware that you mig ...
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Tuesday, December 29, 2020 / by Traci Pimentel
Even in today’s sellers’ market, setting the right price for your house is one of the most valuable things you can do. According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase by 4.5% in 2021. This means experts anticipate home values will continue climbing next year. Danielle Hale, Chief Economist for realtor.com, notes:
“We expect price gains to ease somewhat in 2021 and end 5.7% above 2020 levels, decelerating steadily through the spring and summer, and then gradually reaccelerating toward the end of the year.”
How to Price Your House
When it comes to setting the right price for your house, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and more buyers want to take a look.
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Monday, October 5, 2020 / by Traci Pimentel
In today’s real estate market, setting the right price for your house is one of the most valuable things you can do.
According to the U.S. Economic Outlook by the National Association of Realtors (NAR), existing home prices nationwide are forecasted to increase 4.7% in 2020 and 4.1% in 2021. This means experts anticipate home values will continue climbing into next year. Today, low inventory is largely keeping prices from depreciating. Danielle Hale, Chief Economist at realtor.com, notes:
“Looking at the sheer number of buyers, low mortgage rates, and limited sellers, the strength of home prices–which are now growing at the highest pace since January 2018–makes sense.”
When it comes to pricing your home, the goal is to increase visibility and drive more buyers your way. Instead of trying to win the negotiation with one buyer, you should price your house so that demand is maximized and mo. ...
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real estate, keenan carter group, keller williams, central coast, san luis obispo county, realtor, selling a home, time to sell your home, selling in the fall, sellers market, home pricing, listing price