Smart Market Report (SMR) October End 2009

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Smart Market Report courtesy of Ron Sparks, designated broker of Coldwell Banker Bain of Bellevue.

SMR strategy is to determine if it is a buyer's market or a seller's market. Once you can decipher which it is and at what range, price the property accordingly. If neutral is at 4.5 and 1 and 9 are the extremities then numbers nearing or surpassing these extremities requires aggressive pricing; whether that aggressive pricing requires an increase or a decrease, it may exceed more than a few thousand, it may require several thousand, or tens of thousands.

Eastside Market Statistics

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Eastside and Mercer Island Market Trends Jan 2007-Sept 2009Graph courtesy of Alan L. Pope & Associate appraisal

Smart Market Report (SMR) October 2009

(Double click picture to enlarge report.)

Smart Market Report courtesy of Ron Sparks, designated broker of Coldwell Banker Bain of Bellevue.

Ron refers to the report as a market demand report. He came up with a formula years ago while selling his property, nearing the beginning in the upturn of the market when people didn't know how high to price their property to make the most profit. In today's market it's a matter of determining the optimal low of the market without pricing it so low as to give it away.

The strategy is to determine if it is a buyer's market or a seller's market. Once you can decipher which it is and at what range, price the property accordingly. If neutral is at 4.5 and 1 and 9 are the extremities then numbers nearing or surpassing these extremities requires aggressive pricing; whether that aggressive pricing requires an increase or a decrease, it must exceed more than a few thousand, it may require several thousand, or tens of thousands.