You can still trust the market!

Pricing a property is one of the difficult parts of any real estate agent's job. A seller wants the highest price possible, but when you over-price you run the risk of racking up days on the market which can turn buyers off even when you've lowered it to a reasonable price! You are much better off starting at the "right" price and that will yield a better offer. However, sellers are usually very wary of under-pricing their house, and think it's a delicate balancing act. Fortunately for our business, it's very hard to under-price because THE MARKET WILL DRIVE UP THE PRICE. A house in Chevy Chase recently went on the market and was listed for a price that was shockingly low. It was bid up and sold $185,000 OVER the asking price. This is an extreme story but I thought it was very indicative that you can trust the market!