Homeowners Work Harder to Sell Homes
We know as the market has slowed that builders are offering additional incentives to purchase new homes. These incentives include everything from upgrades to covering closing costs.
Now, homeowners are taking their own steps to woo potential buyers. Some creative incentives being offered by sellers include a year’s worth of free landscaping or lawn care, free snow removal for a year or a year’s worth of alarm service.
Many buyers are taking a wait and see attitude in regards to purchasing a home. Additionally, they are demanding, and receiving more from sellers and builders as the pendulum continues to swing back from its unprecedented levels of past growth.
Signs continue to point to a market correction. For example, inventories continue to grow. According to the NAR, there were 3.03 million previously owned homes for sale in February, a level not seen since 1991. Moreover, mortgage applications are down. The Mortgage Bankers Association states applications for home loans are down 20% from a year ago.
Even though many sellers may be hesitating, they appear to be gaining an advantage in this revised real estate marketplace.
For more information, contact MillionSaverHomes.com a local Las Vegas real estate broker at 702.212.3513.
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