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Price Adjustments and the 2023 Market

Lamacchia Realty

PRICE ADJUSTMENTS AND THE 2023 MARKET In March 2022, it was clear that the market was changing from a frenzied post-pandemic scene to one where it was assumed that rising mortgage rates would slow it down and help inventory finally rise back up. Fewer sellers need to adjust their price because, again, it’s a seller’s market.

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Price Adjustments in this New Housing Market

Lamacchia Realty

In early March it was becoming clear that the market was changing from a frenzied post-pandemic scene to one where rising mortgage rates would slow it down and help inventory finally rise back up. For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying.

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Price Adjustments in 2021: Tis the Season

Lamacchia Realty

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. How do you know your house is overpriced?

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Why Agents Should Share Their CMA With The Appraiser

Birmingham Appraisal

While agents and appraisers cannot discuss value we can talk about the property and why they may have priced it at what they did. One tool the agent uses to price the property is the Comparative Market Analysis or CMA, and by sharing this with the appraiser they can better understand what went into the agent’s pricing strategy.

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The Pitfalls of Outlier Sales in Pricing a Listing

Birmingham Appraisal

Real estate professionals use a mix of data analysis, market knowledge, and professional judgment to determine a property’s value or list price. The topic of outlier sales came to mind recently when I noticed a sale in my market that was listed between two and three million dollars. There is a difference.

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Getting Appraisers to Reconsider Value—Do’s & Don’ts

Portland Appraisal Blog

All the work getting the property ready for listing, the extensive marketing, the numerous showings, the sometimes tedious offer evaluations has paid off. You, the seller, the buyer, the lender—heck, even the mailman, are all shocked the deal has fallen apart. The buyer loves the home and both buyer and seller feel the price is fair.

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Appraising Fixer Uppers

Appraisal Today

For many different reasons, properties can come on the market in less-than-par condition. The degree and cost to cure becomes an issue to buyers and sellers, and a challenge for appraisers. At some point it’s no longer “normal market value minus cost to cure equals as-is value.”