What I’m trying to say is: if you’re a buyer and have found a home you love or you’re a seller and have found a buyer that is qualified – you should try to work it out with both parties under the expertise of your realtors and the lender. Emotions get in the way too often.
By being proactive you’re more likely to keep your contract on track and get to the closing table on schedule!
The National Association of Realtors just reported that “in October and November, when the market was feeling the effect of the tax credit, 26 percent of sellers cut their asking prices.” In addition, NAR also reported that Trulia.com just released the figures that the “prices on 19 percent of homes for sale as of March 1st have been reduced at least once, the lowest percentage in the last year.”
We’re seeing more and more homeowners willing to suffer the loss on the front-end, only to take the opportunity to trade up and buy a home that has more amenities and is often located in an area that was previously out of their price range.
On the home selling side, two other trends made a big difference in our local markets. In the beginning, when home prices started and continued to decline, home sellers initially remained firm on their sale price.
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