Buyers: For the first time in more than half a decade, the economics of the market are working against you in most places. Inventory is tight, and bidding wars are back in some parts of the country. To acquire your dream home, you’ll have to pay up and contend with continuing strict loan requirements. The bright side: despite rising prices and mortgage rates that are edging upward, buying a home is still cheaper than renting in a majority of the top 100 markets.
-don’t waste time with a low-ball offer
-be the winner in a bidding war
-assess the risk in your local market
-play bankers off one another
Sellers: In most parts of the country, you have finally regained the upper hand. To get your best price, you need to finesse your timing, list competitively, and match your marketing strategy to local conditions.
-Lower your sights to make more money
-Trading up? Move fast. Downsizing? Go slow.
-Smooth out your home’s rough patches and get it staged