As pent-up demand from the spring compounded to produce one of the busiest summers for residential real estate on record, the demand is promising to spill over into the fall months. Bidding Wars may still be around for awhile. “Normally, my brokerage’s sales start to dip after September, and we ... » Learn More about Bidding Wars Could Continue This Fall
Home Ownership
Foreclosed Home – Bad Idea?
REO or real estate owned foreclosed homes can offer great deals but watch out for downsides that may occur with any foreclosure, like maintenance or permitting issues. Purchasing a Foreclosed Home from the Bank - Bad Idea? Question: We are considering a home in a great ... » Learn More about Foreclosed Home – Bad Idea?
Escalation Clause what is it?
Within a competitive seller’s market, a very common tactic to help win a bidding war - when multiple offers are made on one property - is implementing an escalation clause. What exactly is an escalation clause? Sometimes called an “escalator,” an escalation clause is when a ... » Learn More about Escalation Clause what is it?
June Existing-Home Sales Surge
U.S. home sales rose a record amount month-to-month in June, NAR says - but one of the reasons is due to the fact May sales fell dramatically in the early days of the pandemic. Existing-home sales rebounded at a record pace in June, in accordance with the National Association of Realtors® (NAR) ... » Learn More about June Existing-Home Sales Surge
Buyers Most significant Hurdle in June?
Today’s buyers have 27.4% fewer homes to select from than they did 12 months ago, though in Fla. it varies from 31.4% near Tampa to 9.4% in South Florida. Buyer requirements have risen as a result of record-low mortgage rates and frustration after spending time quarantined in less-than-ideal ... » Learn More about Buyers Most significant Hurdle in June?
