10/28/2019
It’s a great time to buy in this weakened market, possibly a once-in-a-decade investment opportunity, if you have the holding power to do so. Sales slow as inventory rises and asking prices are declined. Third quarter data was released a week ago and the numbers were relatively weak compared to the second quarter, this is possibly due to the mansion tax that was passed on July 1, and that’s for the most part true in the high-end market. The low-end market is weak as well, which is why my team leader recommends to his sellers if they want to sell, they must price correctly. Have your broker do a thorough and concise comparative market analysis, (CMA). Look at both what has been sold, and your competition that’s currently on the market. "If you’re a buyer, then what you want to do is find the weakness in the market. Not everyone needs to sell, some people just want to sell; in order to get a good deal in this market you need to find someone that needs to sell,” Brian Morgan.
