Would You Pay $8 For A Gallon Of Gas If You Could Get It For $4?
I’m not thrilled that I now have to pay $4 for a gallon of gas, especially since I’m driving buyers around town all day long. But I certainly wouldn’t pay $8 for a gallon of gas if I could go across the street and pay $4. I believe that today’s appropriate response to a situation like this is “hell to the NO.” Okay, I watch too much reality TV.
So, why would a buyer pay $800,000 for a home, when they could go across the street and buy the same home (give or take) for $400,000? Well, they wouldn’t and they don’t, which you can see from the chart above.
Sellers can ask anything they want for their home, but the majority of buyers are just going to go across the street or down the street and buy the home that’s being offered at a fair market price.
Want to know what your home is worth in today’s market? CLICK HERE and find out.
If you need help pricing your home, please call or email me at stevestewart@kw.com.
