With Spring just around the corner (yes, I can predict fairly safely that we will have Spring time again this year), we have seen a jump in the number of Sellers looking to get their properties listed. What I am having difficulty predicting is the proper list prices for the evaluations that I have been doing. Basing the future on the past used to work when you had numerous sales to go on but now we have so few sales that it is almost impossible to predict future sale prices.
The one thing I have learned through going through these hard times before is that the Sellers who are successful in this type of market are the ones that are ahead of the market. By that I mean that they list their homes at prices that are less than what a current appraisal or Comparable Market Analysis would indicate. The reasons for this are many. First of all, the only buyers who are actively looking to buy are aware of market conditions and will only buy what they perceive to be a bargain. The reason they do this is that they want a cushion in case values go down even further. Secondly, REALTORS who are asked to advise their buyers what represents good value will cause these well priced listings to rise to the top of their radar screen.
For a sample of what I perceive to represent excellent value click on my Deals of the Month.