Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
The number of single-family homes that closed for more than the asking price remained quite high in the first quarter of the year. Looking at the quarterly trend since the beginning of 2019 clearly shows that the current market is behaving differently from the very active market that was observed in 2019. Over half of the Q1 deals closed for more than asking, even with sellers factoring the stronger market into the asking price. This
Home buyers naturally want to get the best deal possible on their purchase. But in this market they have to balance that instinct against their desire to win one of the relatively few available properties. Buyers have to BUY the home they want. Sellers are not going to give them the home. And a bidder thinking that they’d be okay taking the home – but only at their price – is unlikely to get anything
As of the first of May, the Federal Home Buyer Tax Credit is no longer part of the American residential real estate landscape. The incentive took various forms since it first went into effect in April of 2008, offering cash to both first-time buyers and existing home owners. Looking back, two questions immediately come to mind. How did the credit impact the markets over the past few years? And how will the credit continue to