Nation wide Home Prices are dropping an average of 14-15% ! Text 209-597-4338 to buy/sell property

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Prices are dropping an average of 14-15% !!!

3 MAJOR Takes always regarding the National Market according to the Wall Street Journal article “Home Sellers Cut Prices as Housing Market Cools” dated Aug 5th

1. “Homes that have been on the market 3 months or longer are reducing prices by 11% from the list prices,” according to NAR. Remember, the final negotiated sales price is about 3%-4% less (so 14%-15% from original list price).
2. “Talk to your agent about what comparable homes in your area sold for a month ago and price about 5% below that. Sellers are better off pricing conservatively out of the gate to get one good offer than to price too high and be forced to lower the list price further than they would like.”
3. “You only want to drop the list price once if you can, so it is better to make one larger drop than several small ones.”
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