I am often asked about why Realtors keep raising prices for properties when affordability is such an issue.
But the reality is that it is the market that determines values and what people are willing to pay. When prices rise, it is because people are willing to spend more for the same home. Appraisers are sent out by lenders to look at the home you want to buy and they just verify that the historical sales are valid. Thus past sales determine future prices. If the market falls, it indicates buyers are no longer willing to pay that price. We real estate agents do not determine prices at all. But agents do the research and determine what others have been paying to help you price your home to get top dollar. Since value always changes, you might be surprised what your home is worth now. If you’re ever curious, we are just a phone call away!