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HOW CAN PRICE INCREASES BE A SIGN OF A SLOWING MARKET?

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real estate updateHOW CAN PRICE INCREASES BE A SIGN OF A SLOWING MARKET?
I detected a slight disturbance in the force this week. Several price reductions were posted for properties that haven’t sold (gasp) but even more telling was the amount of price increases that were posted. Now why would a seller increase the price of a property that has been on the market for around a week and hasn’t sold? I’m glad you asked….
Lets say a seller puts their home on the market and under-price’s it in order to attract multiple offers. They hold off looking at offers for 7 days but on the offer day, no offers appear. The disappointed seller could remove the home from the market or change strategies and increase the asking price to what they were originally hoping to sell for and then let the listing continue.
I saw several examples of this play out this week on the Realtor Hotsheet, so what does it mean? Is the market about to turn or slow down? A slowdown in the middle of a hot spring market would be unprecedented. Are buyers finally fed up and pulling out of the market? Honestly, it’s too soon to tell but stay tuned. I’ll keep my eye on this over the next few weeks and let you know if I see a trend.
Are you wondering what your home would sell for on today’s market? Call/text/email/DM me for a free market evaluation (in person or online). Put RE/MAX, real estate’s premier brand and my 20+ years of experience to work for you!
Dean Manton Broker
RE/MAX Real Estate Centre Inc
519-716-4663
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virginia Hildebrandt
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The best part of selling our farm was working with Dean. He made suggestions for staging, had the property and our home professionally photographed and presented in a video and then walked us through showing and a successful sale. He was professional and gave honest answers to all concerns and questions. I don't think we could have done better with anyone else. V & H Hildebrandt
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Barry Newell
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We have used Dean as our realtor before and when we decided to sell our home, there was no question of which realtor we were going to use. Dean is friendly and professional and answers all your questions and concerns. We had some difficulty with a place we thought we had, and Dean went above and beyond to help us find another place, which we are very happy with!!! Thank you Dean for walking us through this and keeping us calm through some of the unexpected twists and turns!! If you are looking for a realtor who listens to you and understands what you are looking for, then I would highly recommend Dean!!!
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Ivy Tang
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We’re first time home buyers and Dean helped guide us through the entire procedure. He was always flexible with scheduling around our needs for the entire process - house tours, inspections, final walk through etc., and gave us advice based on his experiences. Thank you to Dean for his help on our first home.
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Juergen Marquardt
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Working with Dean on the sale of our Guelph home was a pleasure, he was very knowledgeable in regards to market value & helped us significantly in regards to staging our home. Our house sold in just under ( 2 days ) after being posted, Dean also guided us through the sale transition making it easy & unstressfull. We would highly recommend Dean & would surely use him again for any sales or purchases in real estate.
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Shazad
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I purchased my first home with Dean and he was a great person to work with. He responded quickly to any inquiries we had, ALWAYS answered his phone, checked up on us after we settled into our new home and ensured that we were happy every step of the way. Thank you Dean!
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william knetsch
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Dean hit the mark on all levels.
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Terri Manolis
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We had an amazing experience with Dean, he was thorough, professional & a pleasure to work with! Highly recommend!
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Laurie Valeriote
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Dean is a great guy and did a wonderful job for us when he listed and sold our home. He is so personable and a great listener. His communication was top notch and we really appreciated being able to get a reply from him very quickly when we had a question. He worked hard to do a market analysis for us and did a beautiful, thorough presentation of it. He was very knowledgeable about the area we lived in and where to price our home to get what we needed. Any concerns we had about anything, he addressed immediately. Thanks Dean for selling our home! Great experience!
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Mary-Catherine Pazzano
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Dean was an amazing Realtor for us. He was super responsive, extremely helpful, and knew a lot about what to look for when buying a home in this market with no conditions. His years of experience are definitely evident. His manner is also super calming, which is an amazing personality feature in a process that is both stressful and exciting! I would happily recommend Dean anytime to anyone!
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