Has your house been on the market for a while, but you’re not getting any offers? There are few things more upsetting than not being able to sell a house. This is especially true when trying to coordinate the sale with the purchase of your next home. How long do you wait before you start to worry?
The world of real estate has a language all its own…which can make it difficult for first-time buyers to understand the status of a listing when searching for a home. While a real estate agent can shed light on the differences between pending, under contract, contingent, and other terms encountered during the home buying process, it helps to know a little about them before beginning your search.
Some people in the United States think of the Midwest as little more than “fly over country,” while the coasts are where the action is. While there is generally less hustle and bustle in the midsection of the country than in New York or L.A., there is plenty of appeal, even outside of big midwestern cities like Chicago.
According to the National Association of Realtors, FSBO (For Sale By Owner) accounted for only 7% of home sales in 2020. That means that about 93% of sellers, along with most buyers, relied on a real estate professional.
There are several things that determine how much house someone can afford. Salary, savings, and credit history paint part of the picture. Add to that the buyer’s wish list for a house, the neighborhood, and the real estate market, and the answer comes further into focus.
People can have bad credit for all kinds of reasons. Does that mean they can’t own a home of their own? A bad credit score will make the process more challenging, but getting a loan and becoming a homeowner can happen.
A stat cited in a 2018 Washington Post article estimated that 73% of homebuyers place a great deal of importance on schools when searching for a home. Education options often outweighed other items on a buyer’s wishlist, such as a garage, updated kitchen/bath, a certain number of bedrooms, or a large yard.
A month into the second half of 2021 and the hot housing market is showing no signs of cooling down anytime soon. This is great news for sellers. A lot of buyers, however, are feeling exhausted and frustrated.
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