I read a few articles a week to keep up with housing market trends, and this one made incredible sense as I've seen in my own practice, and in O'ahu's market. There is so much "poor housing news" meant to drive traffic etc.. this I felt was worth sharing. Although originally published in Aug of 2022, and from Sacramento, CA,- the comments still hold mostly true here on O'ahu, although now I feel our market is warming up again from a STALE winter. Also, the meme's got a great laugh from me!
I hope you enjoy reading as much as I did, pasted with link to full article.
Thank you for the post: SacramentoAppraisalBlog.com.
Advice for buyers & sellers in today’s housing market
The housing market has shifted, and today I have some practical advice for buyers and sellers. This is coming from hundreds of conversations every month as well as stats I’m pulling...
ADVICE FOR BUYERS:
Don’t lowball like it’s 2008: It’s not a name-your-price market, so you still have to make reasonable offers instead of way below market value. I find some buyers think it’s 2008, and that’s not the vibe right now. For instance, a property was priced well at $450,000 and a buyer offered $320,000 (final closed price was $455,000). If you get lucky at a low level, great. I’m just saying, being reasonable rather than lowballing is likely a better strategy.