Tuesday, May 3, 2022 / by Raj Jaggi
With a limited number of homes for sale today and so many buyers looking to make a purchase before mortgage rates rise further, bidding wars are common. According to the latest report from the National Association of Realtors (NAR), nationwide, homes are getting an average of 4.8 offers per sale. Here’s a look at how that breaks down state-by-state (see map below):
The same report from NAR shows the average buyer made two offers before getting their third offer accepted. In this type of competitive housing market, it’s important to know what levers you can pull to help you beat the competition. While a real estate professional is your ultimate guide to presenting a strong offer, here are a few things you could consider.
Offering over Asking Price
When you think of sweetening the deal for sellers, the first thought you likely have is around the price of the home. In today’s housing market, it’s true mo ...
Monday, April 18, 2022 / by Raj Jaggi
If you're considering selling your property, you may have heard that prices are rising, listings are selling quickly, and sellers are receiving several offers. But why are today's selling conditions so favorable? And what can you expect if you decide to relocate? Let's look at the data to see if we can answer both of those questions.
There are considerably more purchasers shopping for homes nowadays than there are sellers offering their properties. To help paint a picture of what this looks like, below are maps from the National Association of Realtors (NAR) depicting recent buyer and seller traffic:
On the left, notice how much darker the blues are. This demonstrates that today's buyer traffic is robust. The much lighter blues on the right, on the other hand, imply low or extremely weak seller traffic. In a word, there is far more demand for homes than there are available for purchase.
What Does This Mean for You?
You have a considerable advantage when you sell your home u ...
Friday, March 25, 2022 / by Raj Jaggi
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(CLICK THE IMAGE BELOW TO PREVIEW THE HOME)
238 S Pershing Avenue, Bethpage, NY 11714
Welcome to this Alluring Expanded Cape House in Bethpage sitting on an extra big park-like lot on a mid-block location. On the 1st level, you will see an Open Concept Living Room with hardwoo ...
Friday, March 18, 2022 / by Raj Jaggi
28 Sally Lane, Plainview, NY 11803
Come check out this Beautifully renovated Hi-Ranch in Plainview. This stunning home has 6 bedrooms & 3.5 bathrooms. The first floor has a Master bedroom, full bath, Spacious Family room with Brick fireplace, Laundry room. Move up to the second floor to find 4 huge bedrooms and 1 full bathroom, kitchen, dining room, & living room. Hardwood floors all over, New Siding, new windows, new carpet & tiles. Gas heat, gas cooking, 2 car parking, private driveway, close to all amenities...must see before its gone...
(CLICK THE IMAGE BELOW TO PREVIEW THE HOME)
22 Eleanor Lane, Plainview, NY 11803
Welcome to this Splendid Split Level Home in Plainview! This Unique house features an Open Floor Layout with a Well Crafted Living Room, Modern Eat-in Kitchen w/SS Appliances, Granite Counters & Centre Island, Family Room, Formal Dining Room,3 Beautiful Bedrooms and 2 Bathrooms, Home office. This updated house offers GAS Cooking & Heat, F ...
Friday, March 11, 2022 / by Raj Jaggi
If you're looking to buy a house right now, you're probably aware that there aren't many available. But what does that imply for you personally? As a buyer, you should be prepared to navigate a highly competitive market where homes sell quickly and receive several offers due to low housing availability and high buyer demand. According to Realtor.com:
“Homes also flew off the market at record pace as buyers put offers in the moment properties came up for sale….”
In a bidding battle like this, it's smart to do everything you can to get ahead of the competitors. That's because when you find a home and make an offer, you'll almost certainly be competing with other buyers. According to the National Association of Realtors (NAR) recent Realtors Confidence Index, houses are receiving an average of 3.9 offers today. In the last five years, we've seen the most offers in January (see graph below):
A skilled real estate counsel is essential for navigating bidding wars wi ...