It is really an interesting time in the market. Because inventory is low, those who have listed would seem to be able to charge higher prices for their homes and this is happening only because it is not Spring. When Spring hits, more and more people list their homes thinking this is the best time to do so. However, in Spring sellers have way more competition which drives prices down. The interesting point I want to make, is this.
For buyers, many homes are being closed way over appraisal value which is a real deal breaker for the lenders. 40% of homes sold over-value are coming back on the market...due to financing. Not necessarily bad credit, but the home did not appraise at the high value. There are things you can do in the contracting process to protect yourself from this however, the fact of the matter is...Now is a fabulous time for both Buyers and Sellers. It is like the perfect zone to be in. Less competition for homes to be sold, but a lending market that keeps things in balance-as it should.
Don't let fear of the unknown stop you from moving forward. And sellers pricing right in the first place is critical. Greedy is never a good policy. Getting your best is. Very disappointing for a seller to have their home come back on the market after 20 days or so of thinking it sold. The highest offer isn't always the best. That is my job to help navigate and negotiate for you, so everyone has a Win/Win.
Feel free to contact me for more information. I LOVE Real Estate and at Haven Real Estate Group...Homes and People are our specialty.
Talk Soon and remember to "Spring Forward on Sunday"