What are bidding war mistakes to avoid for homebuyers in today's market? Bidding every last penny you have Bidding with many contingencies Bidding with no contingencies Assuming you’ll get a second chance Using the term ‘best and final offer’ Using an escalation clause Not knowing a home’s true value The current housing market is hot and is a tough market for buyers. Bidding wars are...
Today's market is hard for a buyer because of the low inventory. In this sellers' market, a cash buyer has the real advantage. A study from the University of California San Diego concluded that all-cash buyers have paid around 11% less than those using a mortgage in the last 10 years. In fact, cash sales accounted for 23% of home sales in July 2021 and increased to 27% in July 2022. When a buyer...
The increase in inflation and home prices are making the market hot but also can cause concern in safeguarding your assets. Today inflation is close to a 40-year high which has caused a spike in the cost of everything. The housing market is currently a strong seller's market, however many are concerned with the imbalance in low inventory and high demand. Experts in the field assure us there is no need for...
According to Realtor Magazine, some of the best days for a home tour are on rainy days. A rainy day can be a home buyer's best friend. After a storm is a great way to see if there are any issues with a home before you make an offer. It can also give the buyer a leg up as many buyers would not come out in the rain. In a competitive market like today's, every competitive advantage counts. According to...
Whenever you are planning to buy a home, you need to have your best foot forward so your offer will be accepted. During a seller's market, this is definitely a big challenge. Here are tips from USAA on how to purchase a home in a seller's market. Choose a sharp real estate agent. This is particularly imperative when you are in a seller's market. This kind of market sees more buyers than houses for sale....
When purchasing an existing home, it is important to include a home inspection. Any home buyer will want to know the shape the home is in before committing to purchasing the home. What if a home buyer is purchasing a new construction home, is a home inspection needed? Industry leaders say yes and here are the reasons why. New homes can have problems, too Does new mean perfect, absolutely not! A new home...
Prices of homes are still on the rise and the buyer's competition is still booming. Inventory is still low, so now is the time to sell a hard-to-love home. “In years past, it would have been very hard to sell on a busy street to a builder. Not now,’’ Judy Alexander, a realtor at Barrett Sotheby’s International Realty in Lexington said. “There are some towns that we cover that have zero...
This year began with a seller's market due to record low interest rates and buyers' strong demand. Housing prices are on the rise but that doesn't mean a seller doesn't need to keep their home in tip-top shape. A move-in ready home will get a seller a higher offer than a home that is not staged. Both the interior and the exterior must be in good condition. The National Associations of Realtors says that...
Not every potential home buyer has immaculate credit, but this doesn't mean there are not other options for them to purchase a home. Owner financing is a an option for buyers. In the 1980's owner financing became a way to avoid the 20% mortgage rates for home buyers. Since then, owner financing has grown in popularity again as mortgage lending standards have continued to tighten in an increasingly...
During this hotter than ever housing market many real estate companies such as Austin Banks, have a list of approved offers. This basically means a real estate company already has a buyer set up that can purchase a seller's home. There are specifications that a home must pass in order to be considered. Here are five suggestions to help a seller through this process. 1. I Need to Clean and Paint my House...
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