The Neighborhood Connection: August 2022

Welcome to August

How would we describe our current real estate market? Well, the words “nuanced” or “fickle” come to mind.

As a Seller, “premium” pricing is no longer in the cards. Pricing is critical and homes must be market-priced to attract the greatest number of Buyers. Sellers much get back to focusing on the five “P’s”: Product, Price, Promotion, Place, and People. Gone are the days of just putting a sign in the yard and expecting multiple offers, so it is imperative that you have strong advocates working on your side to ensure you have the best positioning! Demand continues, for view homes, waterfront homes, or very well priced, positioned, and promoted homes.

As a Buyer, think “opportunity.” This is your opportunity to finally purchase a home at market price vs. premium pricing! You now have choices, more time to do proper due diligence on the home you intend to purchase, and you still will benefit from historically low interest rates. Gone are the days of queueing up to tour homes, spending just 15 minutes racing through a house, drafting offers with zero contingencies, only to lose. But remember, this remains a Seller’s market, so the expectation that you are going to extract a killer deal or huge discount is probably not in the cards.

Despite the market trends, our company continues to transact and produce results that surpass the market averages. We win bidding wars, we get record prices for our sellers, and we find ourselves incredibly blessed with our position as market leaders as we move into the second half of 2022. With the right team, the right market knowledge, and the right strategy, anything is possible. We look forward to being in your corner for the rest of 2022 as our goal is to educate and protect our clients from making critical mistakes in the ever-changing housing market.

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