Well, the news is out! The market has started to slow down. We are blessed in this area that the impact has been minimal compared to other areas. Starter homes are still very much in demand, although even those are taking a bit longer, on average, to sell. Pricier homes are definitely sitting on the market longer (as much as 9-12 months in some peninsula areas) and price reductions are not uncommon.

So, what does it take to sell a house? Well, there is a long answer and a short answer. I will skip the long answer here, except to say that it almost always takes a lot of hard work. The short answer is summed up in two words, price and exposure. Price is obvious. An overpriced house may not sell, even in the most heated markets. But once the market softens and buyers begin to realize they might not have to compete for the house they want, they will look long and hard at the price. It has to be reasonable or they will pass. (Also, even if a high priced house sells, it may not appraise at the purchase price.)