Starting Soon - Webinar: 10 Ways to Win in a Multiple Offer Situation

The Secret for Earning Price Adjustments — Which are Crucial in a Normalizing Market

       

We are in what we might describe as a normalizing market. What does that mean?

We've been in an abnormal market for several years. Our market's been almost a vertical. We've had double digit appreciation for several years. And this has been a run that we've never seen before.

We're about 12 years into a 7-year cycle. So there's an expectation that we're starting to see the markets shift.

A lot of us are seeing a slowdown of showings and energy. And there's some data that backs this up. Here's some of that data:

New listings in the largest 50 metro markets across the country rose 5.1% last month.

And 17.3% of all listings in the country had a price reduction in the last 30 days.

That's in line with pre-pandemic levels, what you would expect in coming into fall. So that's like 2016-2019 levels. Last year, we didn't see that because the market was straight up. It was on a tear.

But right now sellers are starting to say, "Hey, wait a second....

Continue Reading...

The “Per Square Foot” Secret To Becoming The Expert In Your Market

       

What are the most expensive per square foot homes in America?

According to a recent study recently done by REALTOR.com San Jose Santa Clara had the most expensive per square foot averages across the country.

Drum roll — $1,500 a square foot, not far behind are San Francisco and Oakland with $1,200 a square foot.

Now what's the least expensive in the country? Least expensive is Decatur, Illinois at $102 and Youngstown, Ohio at $120 a square foot.

There's a big discrepancy between the two.

The reason I bring this up is because we need to know what our average per square foots are in our local market. And it's going to change by subdivision. It's going to change by micro markets. But overall, you need to know what your county averages are and then your subcategories in different market segments. That way you can speak to this as an expert.

The other thing you need to be able to do is bring these into a conversation with buyers and...

Continue Reading...
Close

50% Complete

Fresh ideas, new scripts, cool tools, and the hottest trends in the real estate industry are coming your way. Have an amazing day!