Hello everybody, welcome back to Suburban Snacks. I’m Cade Olof and this month’s snack is Reese’s White Chocolate Trees.. Before we review the snack, we will be discussing this market and how it’s affecting home buyers.
According to Realtor Magazine, home sale activity this fall has dropped by 14.1% compared to last year, that doesn’t mean buyers will face less competition. They may be surprised to learn that multiple-offer situations, in fact, are still common. Listed homes receive an average of 2.5 offers. Even though home prices continue to rise, multiple offer situations lead to bidding wars causing buyers to offer more than the homes listed price. Agents across the country have reported that clients are offering 11% to 24% above the listed price. So what’s positive about this situation? Even though buyers may have to experience some heartbreak to get the “the one”, recent housing reports have stated that we may see more seller concessions as higher mortgage rates and home prices push buyers out of the market. This means that a real estate agent with good negotiating skills could help you receive seller concessions.
A new report from Redfin shows that about one-third of U.S. home sales included concessions from home sellers during the three months ending Oct. 31. So if you are someone looking to purchase or sell a home in Southern Arizona, then we at Suburban would love to help!
Now it’s time for the snack review. Do you like Reese’s White Chocolate Trees? Let us know in the comments below. That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Thanks for watching, my name is Cade Olof and we will see you in the next one.