{"id":456,"date":"2013-10-11T12:40:45","date_gmt":"2013-10-11T17:40:45","guid":{"rendered":"https:\/\/number1homeagent.com\/?p=456"},"modified":"2013-10-11T12:40:45","modified_gmt":"2013-10-11T17:40:45","slug":"456","status":"publish","type":"post","link":"https:\/\/number1homeagent.com\/?p=456","title":{"rendered":""},"content":{"rendered":"

A few days ago I posted this update about the market:\u00a0 http:\/\/www.nohasslelistingblog.com\/2013\/10\/09\/buyers-hit-the-pause-button\/<\/a><\/p>\n

\u00a0A friend sent me the following text:<\/p>\n

\u00a0\u201cJust read your blog.\u00a0 What are you doing to get past this little stall we are in?\u00a0 Any advice?\u201d<\/p>\n

\u00a0Yes.\u00a0 When the market slows, as it has, it does not mean that \u201cnothing is selling\u201d or that it has all gone to hell.\u00a0 Buyer activity (which is what drives the market) is never really constant.\u00a0 It is always fluctuating \u2013 and therefore the relationship between supply and demand is seldom static \u2013 it is normally moving.\u00a0 It is that relationship between supply and demand that tells you which way prices are moving.\u00a0 Trying to determine the actual rate of increase or decrease WHILE it is occurring is difficult.\u00a0 After the fact, it is an easy calculation.<\/p>\n

\u00a0You can see examples of this by observing how major banks behave in pricing their REO properties.\u00a0 They tend to be out of sync with the market.\u00a0 3 or 4 years ago, they were under pricing everything in our area and the buyers would bid them up to the \u201cactual market price\u201d.\u00a0 Recently, they have been overpricing lots of inventory.\u00a0 Part of their problem is how removed they are from the scene and they usually rely on asinine economist\u2019s data or the kind of crap companies like Core Logic churn out.\u00a0 It is just simply wrong.<\/p>\n

\u00a0No agent ever needs to make that error.\u00a0 Here is what is true.\u00a0 Any house is \u201cworth\u201d what a willing buyer will pay for it and a willing seller will accept.\u00a0 Now.<\/p>\n

\u00a0The is the point that is typically missed.\u00a0 Now.\u00a0 How much will they pay for it, NOW.\u00a0 Not what did the agent think it was worth last month.\u00a0 Or how much it might \u201cappraise for\u201d next year.\u00a0 Now.<\/p>\n

\u00a0Overpriced listings in ARMLS are not rare.\u00a0 The Days on Market (DOM) count is growing.\u00a0 Why?\u00a0 Not priced correctly.\u00a0 This is SO simple, even a Realtor can do it! \ud83d\ude42<\/p>\n","protected":false},"excerpt":{"rendered":"

A few days ago I posted this update about the market:\u00a0 http:\/\/www.nohasslelistingblog.com\/2013\/10\/09\/buyers-hit-the-pause-button\/ \u00a0A friend sent me the following text: \u00a0\u201cJust read your blog.\u00a0 What are you doing to get past this little stall we are in?\u00a0 Any advice?\u201d \u00a0Yes.\u00a0 When the market slows, as it has, it does not mean that \u201cnothing is selling\u201d or that it has all gone to hell.\u00a0 Buyer activity (which is what drives the market) is never really constant.\u00a0 It is always fluctuating \u2013 and therefore the relationship between supply and demand is seldom static \u2013 it is normally moving.\u00a0 It is that relationship between <\/p>\n

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