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.
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.
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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 Purpose and Components of a Comparative Market Analysis (CMA) The CMA is a tool that real estate agents use to develop a list price for the house they are selling.
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 6, 2024
More sales in the lower price bracket may indicate a decline in prices and more in the upper range may indicate an increase. This information can be used to advise sellers on how to price in this situation. In a seller’s market, where there are more buyers than available homes, prices might be higher.
Town & Country Residential Appraisals
DECEMBER 16, 2019
This means that over the years we have received properties from real estate agents on properties where we had a question as to the rationale used to develop a contract price. They tell, “How much do sellers want,” but not the other half of the story, “how much are buyers willing to pay.” Sometimes they aren’t “comps” at all.
Birmingham Appraisal
SEPTEMBER 26, 2023
Some people will say that it is market value because you have a willing buyer and a willing seller. For sellers, this can be appealing, as it may justify a higher asking price. Including an exceptionally high sale in an area with mainly moderate values can give a false impression of what typical buyers and sellers can expect.
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