Home buyers warned to expect “fierce competition” this summer

Low numbers of homes listed for sale will combine with record low interest rates to create a competitive home shopping summer, realtor.com said in its Weekly Recovery Report ending July 11. The housing market is getting closer to pre-pandemic levels, Realtor.com’s index revealed. It reached 98.5 this week, which is just 1.5 points below its

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Bidding wars fall to 10-year low, but the respite won’t last long

Yet more evidence has emerged that now is a great time to buy, with Redfin saying that bidding wars, in which multiple buyers compete to buy a home, are at their lowest point in 10 years. Redfin says in its latest report that just 10% of offers on homes sold via its real estate agents

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Experts warn falling inventories could lead to a return to bidding wars

Bidding wars and faster home sales could soon become the norm again if the latest forecast on home inventories by realtor.com holds true. The report forecasts that the number of homes for sale in the U.S. is set to decline again in the next few months, limiting the bargaining power of buyers until well into

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Redfin says we’ll see less bidding wars this year

Bidding wars are unlikely to be as commonplace this year as they face less competition due to growing inventories in many markets, according to a new Redfin analysis. In April, just 15% of offers faced competing bids, Redfin said. That’s down 60% from a year ago, it added. The reduced competition is even being felt

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Why writing a personal offer letter may not be such a great idea

Demand for homes in some parts of the country is so great that many of the best listed properties are subject to so-called bidding wars, with numerous buyers all vying to get the seller’s attention. In some cases, bidders are even writing personal offer letters directly to sellers to try and win them over. But

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Expect fewer bidding wars on the West Coast this year, Redfin says

Home buyers on the west coast are less likely to face a bidding war than in previous years, according to a new study from the online real estate brokerage Redfin. What’s more, they also have a better chance of winning the first home they make an offer on than buyers in other parts of the

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How To Create a Financed Offer that Wins Bidding Wars

If you’ve bought a home recently, you probably participated in a bidding war. Bidding wars are a reality in virtually all real estate markets today as there is high demand for properties and low inventory everywhere. Consider this situation: Mark (40) and Nina (35) found themselves in a bidding war in Charlotte, NC. Expecting their

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Buyers are going all-out to win bidding wars

What with buyer demand reaching epic levels amid the ongoing housing inventory crisis, some shoppers are stretching their budgets to the max.

Tips for Real Estate Bidding Wars

You know the market and neighborhood where you are submitting a purchase offer. You know if you should expect a bidding war or not. Having this information in your hip pocket can make a big difference as the early spring market begins heating up

Parents are refinancing their homes to help their kids win ‘bidding wars’

With bidding wars becoming increasingly prevalent in a housing market that’s plagued by low inventories, some parents and their adult children are teaming up to help them better compete.

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