The Hot Topic Realtors Are Talking About!- I was at a networking event yesterday talking to a bunch of different realtors, and the overall predominant topic of conversation was how great of a market it is right now for buyers. It’s such a great opportunity, and the realtors, I’ve been seeing this now for a while, for a couple months, that buyers just have more, they have more negotiating room. It’s not quite as frenzied of a market. It’s not where you have to make an offer way above asking price without even looking at the house, things like that aren’t going on.
It was confirmed yesterday when I was talking to all these realtors, they were talking about how their buyers are able to look at quite a few different homes before making a decision. They can actually sleep on it for a day or two before making the offer in a lot of cases. They sometimes can offer under the listing price. We’re seeing price reductions on homes.
Buyers are getting things like seller concessions, which means the seller is paying a portion of their closing costs in some cases, which can help in a lot of situations. We’re doing things now like home inspections are a thing again, appraisals, there’s not appraisal gaps happening very often where the buyer agrees that they’ll cover the difference between the sales price and the appraisal if the appraisal comes in lower. So, it’s just a much more balanced and rational market, a place where buyers can have a much more rational experience, where they can take things into consideration and consider their options and look at homes and not make a rushed decision, and things aren’t skyrocketing up in value from day-to-day, from week-to-week.
So, it’s just such a great environment for buyers right now, that’s why I wanted to put this video out today, just to stress how good it is right now, and with interest rates easing off a little bit from what we saw a month and a half ago, a month ago, it’s just a really great opportunity to get into a house, to get your foot in the door if you’re a renter right now, or to move up or move down or move to a different area if you’re a current homeowner. So, call me if you’d like to talk about that, or if you have any lending related questions, and you guys have a great rest of your weekend.