A "hot" market is characterized as a strong seller's market with high demand and very low inventory.
Although it may appear somewhat counter intuitive, sellers may deliberately set their price below market value and delay receiving offers in order to create a frenzy of demand resulting in multiple offers and overbidding for the property.
In a strong seller's market it is almost impossible to price too low because competing buyers will drive the price up to fair market value - and in many cases over market value.
As an experienced professional I can recommend the most effective asking price and apply proven strategies to get you the most money possible.
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