What a difference a year makes. Heck, what a difference even a half year makes. Last year at this time, homes were selling in record time and oftentimes well above asking price. In fact, it was commonplace for a new listing to hit the market with broker remarks stating that all offers were due by… Continue reading More Sellers Are Dropping Sales Prices As Market Cools
Category: Home Selling
Fewer Showings Per Listing
With The Federal Reserve aggressively raising interest rates to fight record-high inflation, we have certainly seen a significant slowdown in the real estate market. Perhaps one of the best indicators of this slowdown is the number of home showings per listing in the current market. According the showing management site ShowingTime, the number of home… Continue reading Fewer Showings Per Listing
Contract Cancellations Are On The Rise
Nationwide, we have been in a strong seller’s market for the past several years. In fact, many homes listed for sale ended up with multiple offers over asking price and thus resulting in bidding wars. Subsequently, it was quite rare to see sales contracts canceled. Those days are over now though. As of last week,… Continue reading Contract Cancellations Are On The Rise
What Is An Appraisal Contingency?
As a home buyer it is normal to want to pay fair market value or less for the property that you are considering. If you are obtaining a mortgage to purchase the home, your lender will certainly feel the same way. After all, lenders do not want to loan more money than an asset is… Continue reading What Is An Appraisal Contingency?
Should You Conduct A Pre-Listing Home Inspection?
In yesterday’s blog article we discussed the importance of having a thorough seller’s disclosure when listing your property for sale. To read that article, click here. One way to ensure that your seller’s disclosure is as thorough and transparent as possible is to have a pre-listing home inspection conducted at the property. Although pre-listing home… Continue reading Should You Conduct A Pre-Listing Home Inspection?
Is the Sellers Property Disclosure Important For Florida Real Estate?
The importance of a sellers property disclosure can be easily overlooked in a red hot seller’s market like what we have seen over the past few years. After all, it is quite likely that the property would have received multiple offers above listing price with several of these offers being cash offers with no contingencies.… Continue reading Is the Sellers Property Disclosure Important For Florida Real Estate?
The Future Of Housing With Rising Rates
Did you know? On average, home prices rose by 21% in March from a year ago. This marks the strongest March year-over-year growth on record. What was the reason for this? Most likely, this was due to pent up home buyer demand combined with more buyers entering the market in a race against expected mortgage… Continue reading The Future Of Housing With Rising Rates
Higher Mortgage Rates Leading To Less Buyers
Skyrocketing home prices over the past few years has certainly not deterred home buyers. However, rapidly rising mortgage interest rates are certainly resulting in a change of plans for many of these would be home buyers. Unfortunately, out of control inflation reaching a 40-year high has forced the Federal Reserve to take aggressive measures. In… Continue reading Higher Mortgage Rates Leading To Less Buyers
Capital Gains and Real Estate
The recent run up in home prices has resulted in many homeowners realizing significant gains in home equity. This has been quite the reversal from the time period between 2008 to 2012 when many homeowners were selling at a loss due to the economic downturn. Now more than ever, homeowners must be cognizant of the… Continue reading Capital Gains and Real Estate
Capital Gains Taxes and Real Estate
If you are a homeowner, then you have most likely seen your home’s value soar in recent years. While this is great news, it is important that you are educated on any tax implications that you may encounter as a result of the sale of your property. For many homeowners that sell their properties, they… Continue reading Capital Gains Taxes and Real Estate