DENVER – A recent report from real estate brokerage firm Redfin shows the Denver metro area’s housing market is among the most vulnerable during an economic downturn.
With recession fears and higher interest rates contributing to a shift in the market, most experts say to take a deep breath if you’re a buyer or a seller.
On the seller side, real estate experts like Lori Abbey say if you’re priced right — and you don’t have to make a price drop — you’re still getting about 1% over ask.
This is what she has to say about why sellers shouldn’t be worried about their homes becoming depreciated as the market shifts:
On the lender’s side, Jimmy Everett, owner and operator of Everetts Lending, says buyers worried about what the shift in the housing means for the value of their home should pause and take a breather as the market shifts.
This is what he has to say to homeowner’s who’ve heard the price they paid for their homes a year ago might not be what they could get for their home today:
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