Has the market shifted?
August 7, 2018 | Tim Burroughs
We are noticing that the market has slowed in the last 6-8 weeks.  Many listings have longer days on market and we are seeing more reductions in price than before.  We are also seeing that instead of receiving multiple offers and settling on a price that is higher than the asking price, sellers are seeing fewer offers and often sell for asking price or slightly below.

It is right to have the right expectations when you enter the market.  If you thought that the market was continuing to increase in value, you might have set your beginning price too high.  If you don't adjust more quickly and reduce the price to get to a new group of buyers, your home will stay on the market and eventually sell for less.  Buyers will want to know why it is still on the market, questioning whether there is something wrong with it.

If you have other questions about the value of your house, just ask.  My background in real estate appraising has allowed me to answer the questions better and to show evidence for my conclusions.  I can be reached at 208-409-7653 or by email at Tim@TimBurroughs.com.
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