Posts in category 'For Buyers'

For years, many people have been waiting for the right moment to finally score a deal in the housing market. Well, according to a recent yahoo!finance report, now may be a good time to get yourself a better deal!

Prices for new homes dropped in nearly one-third of the country's largest cities last quarter — a sign that the premium buyers have long paid for new construction may finally be easing in some areas.

So if you've been eyeing new construction, this might sound like great news. But as with most housing market stories, there's more to it than meets the eye.

There are opportunities out there, especially in certain markets and situations. But finding a genuine "deal" on a new build may take more effort, strategy, and local knowledge than simply scrolling the latest listing prices.

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When people start imagining their next home, their "wish list" of what they want it to have usually includes things like the number of bedrooms and baths, a particular style of home, maybe a yard…or definitely not a yard for those who'd rather avoid mowing. Some buyers dream about fully updated kitchens and bathrooms, while others are perfectly happy with a fixer-upper so they can make it their own.

Having an actual list of wants and must-haves is smart. It keeps you (and the process) focused, and helps you know where you can bend and where you need to draw the line.

There are common themes, but no two lists are exactly alike. Even couples buying together often have wildly different visions—which is one of the many reasons why real estate agents joke about being part-time therapists as they help partners negotiate their wishlists.

But one thing the vast majority of buyers agree on and tops the list of must-haves might surprise you—it's safety.

Many homebuyers have felt like they've had to go to extremes just to have their offers considered. For a while now, the combination of limited inventory, bidding wars, and competition from investors—ranging from local flippers to large hedge funds—has left everyday buyers feeling like they need to act fast and give up key protections just to have a shot at getting their offer accepted.

Waiving contingencies like inspections or appraisals became a common tactic, not necessarily because buyers wanted to—but because it sometimes felt like the only way to be seen on equal footing. If you've felt that pressure, you're not alone. It's been a tough environment to navigate.

In some areas, inventory is ticking upward, and some buyers are putting their searches on pause due to rising rates or economic uncertainty. So that may be starting to shift to a degree and give you more breathing room than there was even a few months ago.

But competition is still a reality...

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There's a saying in real estate: "Date the rate, marry the house." But lately, some buyers aren't even swiping right unless the rate starts with a two.

A new Real Estate News survey reveals that 1 in 4 would-be buyers say they're sitting out until mortgage rates drop below 3%. Not 5%. Not even 4%. Three. The kind of rates economists are calling "very unlikely" in the foreseeable future.

Now, if you're a buyer who's actually in the market right now—or thinking about jumping in—it's easy to wonder if rates should be lower or whether waiting might be the smarter move.

But consider this: that 25% of would-be buyers sitting on the sidelines is what makes it a good time for you to ju...

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Finding the perfect house is exciting, but realizing the neighborhood isn't a perfect fit for you after you've moved in…not so great. Maybe the street turns into a speedway at rush hour. Maybe the neighbor's dog thinks barking is a competitive sport. Or maybe it just doesn't feel right, and you can't quite put your finger on why. Either way, it's a hard thing to fix once you've signed the papers and unpacked the boxes.

So before you fall completely in love with a house, make sure you're also feeling good about where it's located. A little extra effort up front can save you from a lot of frustration later. Taking the time to really explore the area—not just th...

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