Not A Seller's Market Anymore

Every day we are having the same conversations with sellers. Yes, you should respond to that offer. Yes you should lower your price. Unfortunately, it is not April of 2007 anymore.

Yes, it is painful to have missed the peak of the market. On the other hand, your real estate has been a terrific investment. It has devalued much less than the stock market. There is not a glut of units on the market, although inventory is rising. Your property is still desirable if you will accept that it has lost some value since the peak. Not too much: 10%, in some cases 15% in the past six months. But it needs to be priced to sell to make value conscious buyers to pay attention to it.  And when they offer, even if it is 20% or 25% below the asking price, you have to respond if you want to sell.

This market is not for everyone. But if you want to sell today it can be done, and done well, if you can acknowledge the changes which the market forces have wrought and work within the new paradigm.