Home buyers today want bargains! And, most homes being sold today are at bargain prices, compared with last year and two years ago and three years ago. Sellers are pricing accordingly-some sellers even underprice their homes knowing that buyers will flock and bid up the price (auction mentality).
With HAFA’s mandatory implementation in April with the requirement of “Market Value” as a part of the legislation, we are seeing hints of a change. Buyers are starting to look at “Value” vs. “Price” and are making offers relating to perceived value.
Buyers and their agents are doing much more homework to ascertain value and are updating daily. Appraisers are doing the same.
In a few months, we will be saying “Home Buyers Today Want Value”.
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