In one of the best buyer markets ever, sellers are not really doing much to encourage purchasers to act now.
Builders offer a variety of incentives such as upgrades, seller-paid closing costs, interest rate buy downs, washers, dryers, refrigerators or big screen TVs.
Interestingly, much of the resale market doesn’t employ many of these techniques. According to the latest NAR Home Buyers and Sellers Profile, 56% of sellers are not offering any incentives at all.
25% offer a home warranty which is valuable but at an average cost of about $500, it probably doesn’t do much to make the difference in the decision to buy or not.
With the tougher mortgage conditions that exist today, buyers are more discerning and looking for their best opportunity. When homes are similar in size, condition, location and price, the home with the most attractive terms will sell first.
Whether selling or buying, today’s complex real estate market requires a professional who can structure a transaction to benefit all parties involved. A Residential Finance Consultant has the tools and information you need to make better decisions.