Birmingham Appraisal
JULY 12, 2023
Pricing a property correctly from the outset is crucial for attracting potential buyers and maximizing the seller’s return on investment. In this blog post, we will delve into the concept of the Law of Diminishing Returns and explore how real estate agents can utilize this knowledge to effectively price their listings.
Lamacchia Realty
OCTOBER 25, 2023
Furthermore, potential sellers with covid-era mortgage rates of around 3% aren’t actually listing because it means they’d have to give up that historic rate and trade it in for one that is two to three times higher. Fewer sellers need to adjust their price because, again, it’s a seller’s market. It means they’re down.
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Lamacchia Realty
JUNE 21, 2022
For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying. The low rates made it possible to offer more on a home as the cost of borrowing was lower and therefore, sellers weren’t the ones competing, buyers were. The same will be true for sellers.
Lamacchia Realty
AUGUST 3, 2021
Buyers have had more money to work with due to the low mortgage rates , and sellers who actually listed their properties were given the pick of the litter in multiple offer situations where most of the time, the homes were selling for over asking. It comes with a negative stigma for sellers to hear that a price adjustment is recommended.
Birmingham Appraisal
FEBRUARY 20, 2024
While the agent acts on behalf of their seller, it is important for their pricing strategy to also be based on the most up-to-date and accurate market data. The goal of a CMA is to provide sellers with an accurate estimate of their property’s worth based on its characteristics and the current market conditions.
Birmingham Appraisal
FEBRUARY 6, 2024
Unlocking the Basics: Part 2 of Housing Statistics for Beginners In my last blog post, which was the first installment in this multi-part series, I discussed why it is important for agents to be aware of local housing statistics. This information can be used to advise sellers on how to price in this situation.
Birmingham Appraisal
SEPTEMBER 26, 2023
Some people will say that it is market value because you have a willing buyer and a willing seller. In this blog post, I’ll dive deep into what outlier sales are, why they should not be used in pricing other properties, and the potential consequences of relying on them. For buyers, it could mean a potential bargain.
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