What’s Behind Declining Home Prices?

Triad Real Estate Podcast with Jason Bramblett

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Homeowners in the Triad are frustrated. Inventory is low, demand for their homes is high, and they’re receiving multiple offers from prospective buyers, but home prices are still dropping.
How can that be? Supply and demand economics would say that if there’s only a little bit of something that a lot of people want, the price should go up.
In real estate, things don’t always work this way. The factor that is causing this counterintuitive price drop is the banks. Banks don’t care that you’re pushing home values up; they feel that a given home is worth X amount, therefore, the amount they will loan will reflect that.
Now, the buyer can pay the difference out of pocket, but we’re seeing in certain price ranges that that is not always the case.

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Be cautious out there if you’re a homeowner.

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Be cautious out there if you’re a homeowner attempting to sell your home. Just because you get the highest and best offer doesn’t necessarily mean that it’s going to stick. It could come right back down to where it might have been in a more reasonable market.
If you need help, I’m here for you. We’ve been doing this a long time, so we can walk you through the process, make sure that we diligently price your property to get top dollar, and get every offer to stay. Do you really want to see a house four or five times just to get an offer to stick? We’ll always get you the most money in the shortest amount of time.
For any questions or if you need assistance, feel free to reach out to me. I’d be glad to help.