Everyone connected with Real Estate is feeling the downward tug when it comes to valuing properties. That is, everyone who is not still ignoring the clear market trends towards conservativism. Of course, sellers still think they are entitled to 30% more than last year. It’s up to honest industry professionals to begin educating their client base. For my part, I’m looking at sales within the last 12 months only, which accounts for the fall/winter where prices began backing up. For the investors, I’m being more conservative then ever in my opinions. The bottom line is that if the seller can get more than market, great, but we’re going to plan for a market response in line with the price slowdown.

If you are looking to sell, BEWARE of the agent telling you the highest numbers – chances are good they either a) will tell you what you want to hear to get the listing, or b) just aren’t in tune with the market in 2007. In either case, you have to ask yourself; can you trust this person to represent you well throughout the process? As always, I am available for a complimentary Market Price Opinion should you like one.

For more Lancaster PA Real Estate news click here.