Market Update For Our Sellers

Karen & Todd send our sellers an update on market conditions every two weeks. Here is an excerpt of that e-mail.

“This market is a PRICE WAR and a BEAUTY CONTEST.” Those were words of wisdom I heard last week from an agent who had been in the business for many years. In her market of Virginia Beach she has seen highs and lows over the years. While the aforementioned quote is true in any market, it is dead on center in today’s market.

She explained to me that her market has seen peaks and valleys over the years. Residents there are used to changing markets. Up until a few years ago our market was stable, with little volatility either way. We weren’t used to a changing market because it had never happened in Michigan. It has taken a while for most homeowners to come to terms with the fact that their home is depreciating at a rate of 10-15% a year for the last 2 years. As a homeowner, it certainly makes me queasy.

My goals in getting your home sold have remained unchanged since we first spoke:
To sell for the most money possible in the shortest amount of time. (The Rolling Stones song does not apply to this real estate market. Time is definitely NOT on our side.)

As you’ve probably heard me say, this market is a moving target. Last month’s price is ancient history. Some of our sellers have taken proactive steps in staying in-front of the market instead of chasing it. It’s no coincidence that those properties are getting activity and offers.

Clearly marketing, exposure, and communication are important factors in getting to the closing table, but PRICE is the determining factor whether your home will be chosen.