Dear David, These days, asking prices are intentionally being kept well below a property’s market value. What happens if the highest offer a seller receives matches this “undervalued” asking price? Is there a penalty if the seller rejects the offer? I don’t want to get burned. – PRICING PROBLEMS DEAR PRICING: Thanks for a great
As a Seniors Real Estate Specialist (SRES), I’m seeing more clients choose to leave the city for cottage-type communities where boat docks and fishing spots are minutes from home.
We’re currently experiencing a heavily skewed seller’s market, which means there’s a shortage of listings and more potential buyers than homes.
From a valuation perspective, your listing price needs to target the range between what the property is earning today and its full earning potential.