Thursday, February 20, 2025 / by Vic Markarian
For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.
As the National Association of Realtors (NAR) explains:
“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”
What Are Seller Concessions?
Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR), nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions:
Covering Closing Costs: The seller pays for part ...
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Thursday, December 19, 2024 / by Vic Markarian
When you sell your house, ideally, you want it to go something like this: your house sells for top dollar, you get it sold quickly, and it all goes down without a hitch.
But what many people don’t realize is that even in today's market where there are more buyers than homes for sale, there are still things that can cause delays or even keep a house from selling. According to Zillow, in 2024, as many as 1 in 3 sellers took their home off the market before it ultimately sold.
And while the reasons those houses didn’t sell are going to vary, there are some general themes that come through. If you’re having trouble getting your house sold, here are the top three hurdles that could be getting in the way, and how an expert agent can help you solve these issues.
1. Priced Too High
It’s no surprise that price plays a major role when you sell. And in today’s market, overpricing a home in a high-mortgage rate environment is the biggest thing k ...
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Thursday, November 14, 2024 / by Vic Markarian
Should You Sell Your House or Rent It Out?
When it’s time to move, deciding what to do with your current home is a big decision. Many homeowners today are considering renting out their property, but is that the right move for you? Here’s a breakdown to help you decide.
Is Your House a Good Fit for Renting?
Think about whether your home would make a good rental. For example, managing maintenance from a distance can be difficult, especially if your property needs frequent repairs. Some homes and neighborhoods may not be ideal for rentals, and if the house requires significant work, selling could be a more practical choice.
Are You Prepared for the Realities of Being a Landlord?
Being a landlord involves more than collecting rent. It’s a hands-on role that can be challenging and time-consuming. You might have to deal with middle-of-the-night maintenance calls or the need for repairs before a new tenant moves in. There’s also the financial risk if tenants mis ...
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Thursday, October 31, 2024 / by Vic Markarian
Feeling a bit unsure, or even afraid, to move with everything going on right now? The decision to move shouldn’t be scary, it should be exciting. And the best way to eliminate any fear is to work with a pro.
Real estate agents are so much more than just transaction facilitators; they’re trusted guides to help you navigate the complexities of the housing market with confidence and ease. And a great agent can turn what may feel like a daunting process into a manageable—and even enjoyable—experience.
That’s why, in a Bright MLS survey, respondents agreed partnering with an agent is essential and helps cut down on their stress:
Here are just a few examples of why that expertise can give you so much peace of mind.
1. Explaining the Current Market
You may be seeing misleading headlines about a potential market crash, falling prices, and more. And when you’re not an expert yourself, it’s easy to get swept up in the cli ...
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Thursday, October 24, 2024 / by Vic Markarian
With everything feeling more expensive these days, it’s natural to worry about how rising costs might impact the housing market. Many people are concerned that high prices and tighter budgets could cause more homeowners to fall behind on their mortgage payments, leading to a wave of foreclosures.
But before you start worrying about a housing market crash, here’s a look at what’s really happening. And the good news is: the latest foreclosure data shows there’s no wave on the horizon.
How Today’s Market Is Different from 2008
Let’s ease those fears by looking at the bigger picture. The graph below uses research from ATTOM, a property data provider, to show that the number of homeowners starting the foreclosure process is nowhere near what we saw coming out of 2008. Back then, there was a big spike in how many foreclosures were happening. Today, the number is much lower – it's even dropped some in the latest repok ...
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