An article in MoneySmartGuides (syndicated by Jon Dulin at Wealth of Geeks) tapped Blue Bell realtor Lori Salmon as a commenter on the current, local residential real estate market.
Salmon, with Berkshire Hathaway HomeServices Fox & Roach, reported that conditions continue to favor sellers.
The usual suspects creating these conditions remain supply-chain snafus that curtailed the construction of new homes and a period of low interest rates.
Salmon reported “… properties going up on Friday and sold over asking price by Monday.” She’s also continuing to see “… [b]uyers being very aggressive with their offers, waiving inspections, and covering any appraisal gaps.”
Her evidence of the ongoing sellers’ market included the following cases: “One house a client of mine [sought] had 17 offers,” she related. The accepted offer “ … went $60,000 over the asking price, and [we] waived the inspection.”
Another trend she’s seeing — beyond her Philadelphia collar-county territory — is buyer’s remorse.
That post-close regret been measured in an Anytime Estimate American Home Buyer survey. It cited that 72 percent of new deed holders regret their transactions. Drivers of that dissatisfaction include:
- After-closing realizations of unsustainable debt
- Locations that reveal themselves to be less than ideal
- Unsuitable interiors and home amenities
More on the current residential real estate market is at Wealth of Geeks.
_____
CBS Texas looked at buyer’s remorse among home purchasers.
