Wishing upon a market?

Dated: June 27 2021

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The real estate market doesn’t care about your plans or what you’re comfortable paying. Before you can make a success of a real estate transaction, you have to come to terms with (as a seller) how much a buyer will actually pay for your property, or (as a buyer) what houses are going for in the current market. 

If a prospective seller decides that he needs a certain amount of money in proceeds in order to move to his next home, that can inform a decision about whether or not to put his house on the market, but it will have zero impact on how much buyers will pay for his house. To get the answer to that question requires careful analysis of comparable sales and the features of the property.

Prospective buyers may feel that “prices these days are just crazy!” and believe that actual values are more like the prices from ten years ago, but that opinion won’t change the offer amounts coming from other buyers. Many, many buyers have decided to wait for home prices to go back down to what seems reasonable. All those who did over the last decade have later wished that they could pay that old unreasonable price, because it was so much lower than what houses are selling for today.

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DAVID DUNLAP

As a residential real estate executive with an extensive background in corporate marketing, I am able to apply unusually strong skills in marketing communications, e-marketing, strategic planning and ....

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