When the market is rocketing upward at a dizzying pace, pricing mistakes can go unpunished. During an intense seller’s market, overpriced listings still sell, sometimes for outrageous sums.
Today’s market, which remains quite active, is not as frenzied as at its peak. For buyers, this is good news. For some sellers, the biggest problem is still thinking they can dictate price. They eventually discover that, despite the strength of their convictions, it is the market that determines value, not their hopes, dreams or needs. Over time, the market will “normalize” and this concept will gain in significance.Read More