How can you properly gauge a property’s value – whether you are buying or selling? And just to make it a little harder, the dynamics can change depending on where you are in the market cycle.
Pricing your property right – whether you’re buying or selling is critical. If you price it too high as a seller, you may end up with no offers and too many days on market. That scares buyers into thinking something is wrong. And if you list it too low, you could get multiple offers, but you might not, and then you’re stuck losing money.
As a buyer, if the market is hot, you may have to make an offer over asking price – but where do you stop? And if it’s a slow market, how do you low-ball without upsetting the seller?
Today’s guest is going to give us some tips on this topic.
Ernie Durbin is Chief Valuation Officer at Clarocity. As CVO, Ernie uses new technologies to develop new solutions for the valuation industry, including specialized appraisals such as relocation, review, REO, and forensic assignments.