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Home Prices Crashing? Sellers Disagree - #brokermac
April 21, 2020 at 10:13am | Mac Rogers
coronavirus pandemic has changed how we interact with each other. The fear and uncertainty we are facing right now is totally unfathomable just a few weeks ago.
With the uncertainty comes opportunities. Some home buyers are looking and expecting there would be deals on homes or just down right a repeat of 2008. Unfortunately right now, sellers are not offering any discounts. Some are holding and waiting.
Home prices in Castro Valley has not been affected nor have I talked to sellers that think they need to lower their price. There is certainly uneasiness but no panic at all.
Here's a recent survey done by the great folks at the National Association of Realtors.
1. “Have any of your sellers recently reduced their price to attract buyers?”
Their answer: 72% said their sellers have not lowered prices to attract buyers during this health crisis.
2. “Are home buyers expecting lower prices now?”
Their answer: 63% of agents said their buyers were looking for a price reduction of at least 5%.
Clearly, there's a bit of disconnect here. What I see happening is there maybe a short time frame where buyers might be able to luck out. This could mean getting a slight discount or just plainly getting a home in this very competitive real estate market
that we have in the bay area.
Hey if you're a home buyer the best place to start is requesting our home buyers guide resource and then searching our website for the most up-to-date list of homes in our area. Great thing about our website is that we never ever sell your information,
unlike those national websites, where your information is sold to at least five real estate agents.
For sellers, now more that ever, you need to espose your home to as many buyers as possible. Check out our unique Digital Marketing Strategy and see what makes us different.