Bracketing Buyers Realtors Sellers 
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. Buyers are often reluctant to pay a premium for features that significantly exceed the norm in their area.
Lamacchia Realty
OCTOBER 25, 2023
Now, a year and a half later, with rates up to 8%, buyer affordability is significantly diminished. 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.
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Lamacchia Realty
JUNE 21, 2022
Now, months later, with rates up nearly 100% from the start of the year- January mortgage rates were hovering in the low to mid 3’s and this week reached 6.28%- diminished buyer affordability is causing a big downshift in demand. Rising prices weren’t favorable but with historically low mortgage rates , they were still affordable for buyers.
Lamacchia Realty
MARCH 12, 2024
Due to rising rates and home prices that have continued to influence consumer spending, 2023 saw the lowest inventory in recorded history, and in 2024, sellers are still hesitant to enter the market. Some buyers send that message with a heartfelt letter showing how much they love the home. Real estate is a long game.
Lamacchia Realty
AUGUST 3, 2021
Though there were several months through winter and spring that it never seemed possible this year, the market is slowly beginning to be less competitive for buyers. It comes with a negative stigma for sellers to hear that a price adjustment is recommended. The fact is homes sell for the most within the first week of being listed.
Birmingham Appraisal
FEBRUARY 20, 2024
Understanding the Role of the Real Estate Appraiser When a home buyer finds a home they would like to purchase and have the need to obtain financing they will work with a lender. 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.
Birmingham Appraisal
FEBRUARY 6, 2024
The Alabama Center for Real Estate provides helpful charts and statistics from data it gets from The Alabama Association of Realtors. More sales in the lower price bracket may indicate a decline in prices and more in the upper range may indicate an increase. Your market may have other sources of market data as well.
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