What's Happening? Who Do You Listen To?- Thoughts From Judy Stacee-Cleaver
Wednesday Aug 24th, 2022
What's Happening? Who Do You Listen To!
Everywhere you look, people are hot, angry, tired and impatient. They say "I missed the market!" Transitions are difficult.
I thought the market would definitely slow down with Summer and interest rate increases, but as much as we were all taken by the huge price increases in the bidding process, we were just as surprised at how quickly the prices dropped and to what level.
Some agents are advising Sellers to wait -- it's a Buyers' market. Other are advising Buyers to wait because the prices are still going down.
If ever the pendulum swung completely to the other side, this is it! Homes are definitely taking a lot longer to sell. Buyers who put their purchase on hold a year ago have not been able to save the additional down payment required, and rents are high and still climbing.
At the end of August, we will only have more statistics to confuse us. But once this cycle comes to an end and reality sets in, we'll be back to business.
My Advice: Don't look back. Go forward!
When selling in today's market, pricing is the most important thing a Seller should consider.
If you price your house at today's market value you will get interest, showings, offers and a sale.
But it has to be at today's Market Value, not plucked from the days of yesteryear