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Risks Of Trying To Market

1. This past year or so: In the past year, or so, we’ve witnessed, the price of real estate, in many markets, escalate, exponentially, in a short – period of time. For example, one of the houses, I listed, and represented, not only sold, at nearly 15% over asking price, but there were 22 qualified offers, by the end of the first weekend. We all remember, that, often, in the years before, having to re – price, and adjust listing prices, to get a house sold. Up – markets, often, arise, because of a confluence of factors, such as supply, and demand, low mortgage rates, and the perceptions of improving overall economic and employment conditions. However, prices rose, so quickly, now that mortgage rates have risen slightly, and more houses are listed, we are now, in a somewhat, normal, real estate market. Those who were represented by knowledgable real estate agents, were prepared for the eventualities, and, avoided the danger, of pricing a house, too high. In normal, or weaker markets (e.g. buyer markets), home sellers get the best results, when they price, their houses, properly, from the start!

2. Knowing and understanding the different types of real estate markets: There are three, basic types, of real estate markets: (1) sellers; (2) buyers; and; (3) normal. A sellers’ market is when there are more buyers than sellers, a buyers market is when there are considerably more houses, available, than sellers, and a normal market is when, conditions are somewhat, in – between. Low mortgage interest rates, and optimistic perceptions (regarding the overall economy), often introduce higher prices, and a sellers’ market. When the market becomes over – heated, and prices rise, too quickly, eventually, it cools and dampens enthusiasm, and brings forth a different mindset, and set of conditions. Of course, there’s often, many gradations, in – between.

3. Potential dangers: Buyers who believe, they know – it – all, often offer too low, offers, which not only are refused, but the seller, often considers the offer, insulting, and won’t negotiate. Greedy home sellers, often, over – price their houses, and lose their opportunities of selling their homes.