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Seller Concessions Shrinking
February 20th, 2013 2:27 PM

With inventories down and prices up, sellers are ending the costly incentives they have been forced to offer buyers during the six-year long buyers' market.  Concession-free transactions make deal-making simple on both sides of the table.

The National Association of Realtors reports that last year 60% of all sellers offered incentives to attract buyers.  The most popular was a free home warranty policy, which costs about $500, but some sellers upped the ante by paying a portion of buyers' closing costs or contributing to remodeling or repairs. 

Now buyers are discovering, to their dismay, that homes they wanted to see or possibly buy have already been snatched up before they even get a chance to see or make an offer on the property.  This area's unprecedented low inventory levels are slowly driving up home prices and making sellers reluctant to cede little if any concessions to buyers.  Realtors are warning buyers to be prepared to act that day if they are serioiusly interested in a property, as it most likely will not still be there in a few days.

The tide has turned . . . . . we are now entering a "sellers' market" and no longer will anyone selling a home pay the home buyer to buy it!

 

 

 


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Posted by Barbara Doeringer on February 20th, 2013 2:27 PMPost a Comment

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