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I’m Not an Economist, But…

(Originally written July 2017) I’m not an economist, and I don’t pretend to be.  But it doesn’t take a college degree in Economics to see what is happening in the Durham real estate marketplace. The real estate market in this area is very intriguing.  Our “inventory” is at record-low levels, especially for homes under $250,000.  […]

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• Pricing a Home Part 3 – The Appraisal Price

Almost every buyer is worried that they’ll pay too much for a house.  Here’s a plain and simple fact: A buyer will NOT pay more than the fair market value of the house unless they so CHOOSE.  Here’s why: In the most simplistic terms, in a capitalistic economy, the fair market value of a particular […]

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• Pricing a Home Part 1 – the List Price

When I speak with a potential home seller, the obvious issue that comes up is price.  I feel that, in the process of the sale, there are really three prices involved:  The list price, the selling (contract) price, and the appraisal price.  In an ideal world, all three of these are the same.  It doesn’t […]