Real estate market is in a state of transition. With more listings coming on the market, higher interest rates and buyers being a bit more hesitant in buying and paying too much we are seeing a readjustment in prices. Those that have bought at the peak of the market are having trouble selling for top dollar. Appraisals for those that paid too much for homes are coming in lower and those that can’t come up with more downpayment and stretched to buy could have a problem on closing. We need to keep pricing and expectations real.

Pricing depends on the property, Although we are seeing prices reflect more what sellers want rather than a lower price to attract interest, this is not a strategy for all properties. Those properties that are highly desirable may do better with a lower price. It all depends what the product is. Marketing and home preparation are key. You need to be the best one out there to sell and get top dollar.