You can watch this episode on YouTube.com: https://youtu.be/dxejform3vs
Looks like a seller's market, acts like a seller's market — It's probably still a seller's market.
0:00 - Introduction 1:05 - Listener Question - how to find a good lender. 1:40 - Market Freefall? - What are you really witnessing? Are price drops a sign of a crash? Well, it's more a sign of a correction. People don't like this home at this price. Right now, this is more a sign that there are homes priced inappropriately. 5:45 - Sale Price to Listing Price Ratio - We've seen high ratios - well over 100%. Now we're seeing lower values, but the values are still over 100%. The premium on properties is substantially lower. Know what the data is, and how to interpret the data. Days on Market (DOM) is another common statistic. DOM has been as low as 4 days. A much more balanced market can see DOM at 20 or 30 days. 11:30 - Market is Shifting, but It's Still a Seller's Market - How much of a shift is it? Will it crash? We still need a lot more inventory. This isn't a "bubble." This is a supply and demand issue. 13:30 - Local Comps - When a buyer is looking in this area, they'll likely take a look at these properties as well. Does your home compare well to these others? 14:45 - What's Your Agent's Strategy - Let's say the house doesn't sell, what then? 16:26 - What's Your Selling Strategy? - What if you market terms? 17:05 - What'd We Learn Today? 19:15 - Out Takes.
* No sellers were harmed in the making of this video. Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate: Tyler Cazier: 801-210-0230 Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage: NMLS: 178787 Jason Christiansen: 801-669-7271 NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
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