Asheville Mountain Real Estate Blog

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Location: Mars Hill, NC, United States

A small, highly personalized real estate firm specializing in mountain homes and land in greater Asheville.

Wednesday, April 16, 2008

Supply, Demand, and Emotion

Barbara Corcoran has a post up entitled "The Ten Best Ways to Lose Your Buyer", but the most enlightening portion in the video below from The Today Show, on NBC. The film clip is 5minutes and 57 seconds of lucidity with respect to the housing market, and goes right to the heart of supply and demand.

The Salient Points:
1) The market is grossly oversupplied.
2) Total home sales are off by 30%, yet prices are down only around 10%, and inventories grow each month.
3) Sellers continue to resist any ideas of dropping prices resulting in a kind of long term stand off.
4) The clip closes with some solid ideas for sellers from negotiation to open houses and setting the price.

Most Quotable Quote:
"You can sell any house in any market, no matter what's going on provided your price is low enough".



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828 689 2055
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