need to be considered. For instance, let’s look at Tim and Sue’s situation.
Comparable Home A: $368,000 Comparable Home B: $349,000 Tim and Sue’s Home: $345,000 Comparable Home C: $345,000 Comparable Home D: $333,000 Comparable Home E: $329,000
Tim and Sue appear to have priced their home competitively for the market. Over the next month, the market changes. Comparable Home A: Expired Tim and Sue’s Home: $345,000 Comparable Home B: $339,000 (Reduced Price) Comparable Home C: $335,000 (Reduced Price) Comparable Home D: Sold Comparable Home E: Pending Comparable Home F: $326,000 (New Listing) Comparable Home G: $325,000 (New Listing) Comparable Home H: $319,000 (New Listing) Tim and Sue now have the highest priced home in the area in their price range. When a buyer looks at the comparable home prices, it is now the worst value proposition in the marketplace.
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