Record-low housing inventories and more prospective buyers than sellers have led to competitive bidding wars characterized by little to no contingencies, “as is” contracts, higher opening bids and down payments, and more.
It’s best to have all documentation, financials, commitment letters, and mortgage options prior to making an offer on a property in the current, record-breaking spring home-buying season led by bidding wars, pent-up demand, and decreased inventory.
When crafting a strong offer in a tight real estate market, prospective homebuyers should consider competitive tactics such as minimal contingencies, earnest money, escalation clauses, flexibility, appraisal gap coverage, and more.
With this year’s winter real estate market again predicted to be one of the best ever, now is the perfect time to sell your home due to low interest rates, added demand, proactive buyers, increased digital marketing tools, and other trends.
The usually tepid fall homebuying season will continue gaining momentum due to the lifting of COVID-19 restrictions, more flexible remote work schedules, motivated buyers, additional space needs, and more.
Designated for primary, secondary, and multi-unit properties priced $500,000 or more, jumbo loans help qualified home buyers secure funding beyond current Federal Housing Finance Agency (FHFA) maximum conforming loan limits.
This website and all its contents is an advertisement from Contour Mortgage Corporation, not FHA or HUD. This content has not been approved by the Department or Government Agency. Licensed Mortgage Banker – New York State Dept of Financial Services. Contour Mortgage Corporation - Equal Opportunity Lender - NMLS # 34384