Quote:
Originally Posted by Harpoon PV2
I actually have a property just outside Sequim book marked, that I like, just seeing if it will come down a bit. Been on the market for 78 days, so who knows! Cheers, Dennis
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I follow two markets - Vegas and our little town in Colorado.
Vegas is seeing price reductions and longer days-on-market.
Northern Boulder county had seen huge price increases - 2x over the past two years. Our old house is now over 1.2M. One that went on the market less than a month ago for about 2M has seen a 400K reduction in the past few weeks.
Overpriced markets are correcting!!! The days of bidding wars and selling over asking price are gone (or going soon).
Time to make an offer on it... The seller is faced with a "time to value" proposition. If you can pay cash - even if you finance it's the same as cash if you are pre-approved and don't have to sell another place first - you are in the driver's seat. If you like it and can afford it, even if it might not be at the low, you'd be in control.
Interest rates - which are more like the typical rates not too long ago - are reducing the buying power for lots of people.