Check out this great article by NAR. The practice used to be that appraisers took into account if a home was a foreclosure when finding comparable properties for appraisals. Now that 45% of the sales in the 4th quarter of 2008 were foreclosures...
http://www.realtor.org/research/reinsights/marketintelligence
In essence, we are competing with foreclosures and if we want to sell, we have to price accordingly... conversations with sellers about home values must be very informative. Sellers need to know what is really happening in the market, sometimes that means showing them why the price they had in mind may be too high. After all in a buyer's market, pricing high and reducing later is very dangerous and costly.
For more information about getting your house priced right, visit www.MichelleRobertsRealtor.com
My name is Michelle Roberts, I am a Realtor®/Broker with Coldwell Banker Sea Coast Realty serving Wilmington and the surrounding areas, including Brunswick, Pender, Onslow and Duplin Counties. You know how stressed out people can get when they are buying or selling real estate? I handle all the details and put my clients at ease, so they can enjoy the experience.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2009 ActiveRain Corp. All Rights Reserved
