The perspective of buyers and sellers in today’s shifting market.

For the last two to three years, buyers and sellers have experienced a unique housing market. Today I’ll share a few of them and explain how it affects their real estate plans.

Inventory is still historically low, and interest rates continue to increase. With these market conditions, it’s still a good time to sell and buy. Homeowners have experienced tremendous gains in equity over the last 10 to 15 years. Some of my clients have gained more than $150,000 in equity. However, when they list their homes, they don’t want to pay the closing costs to help the buyer purchase the house. They’re reluctant to spend any money to get their property to sell fast and for top dollar. This may not be a wise move since the market is now becoming more even.

“Homeowners have experienced tremendous gains in equity over the last 10 to 15 years.”

Buyers are now asking for closing costs. They’re not writing offers that are $30,000 above list price. In fact, some of my buyers successfully purchased their homes even with offers that were less than the asking price. Sellers have to be open to negotiation and be willing to pay the closing costs or buy down the rate if they want to get to closing. 

I have an article about this and statistics to back it up. If you want to learn more about this topic or have any questions about real estate, call or email me. I’m always happy to help!