It’s not like rocket science

It’s more Like a Baseball game

We are currently transitioning from a very long inflationary period in the housing market, perhaps the longest in recorded history. The problem many sellers are having is that because this upswing has lasted so long, many of them weren’t in the market the last time it tipped downward. Some of them weren’t even born!

As the market heads down in some price ranges, some sellers are having difficulty adjusting to the fact that the economic principals in an inflating market still apply in a deflating market. In order to cause a sale to happen your price must be at or in front of the direction the market is heading.

For those who don’t have the foggiest idea of what I’m talking about, think of a pop fly ball in a baseball game. The ball usually goes up and then down. With me so far? As the ball goes up if you could position your glove above the ball it would eventually go into the mitt. If, however, the ball is heading down, i.e. has reached the peak of its energy, you must get underneath it to reach the goal, in this case an out.

The ball’s arc represents the market. As the market heads down a seller has to get “underneath” it with his price or no sale will happen. This is a time when it is more critical than ever to have competent help reading the market.

If you find that showings are slow or nil, you need to ask your REALTOR about price reductions, and then listen to the advice. Small incremental price reductions could result in frustration for everyone as you chase the market down. Kind of like chasing a home run up to the fence and then watching it go over.