How far can you negotiate with sellers?

As we have seen, interest rates have increased this summer. Just a few months ago earlier this 2022 year, it was a seller's market. But now the tables have turned. We are seeing price reductions, sellers offering credits, longer days on market, and a slight dip in where home prices have been.  We were at a peak of our home prices that was unprecedented and unsustainable so a "dip" is what we call just a correction in the market.  Even some sellers are willing to go above and beyond to help buy down a buyer's interest rate in order to get their home sold.  With seasons changing and winter approaching in the near future, my recommendation if you are a BUYER to continue your pulse in searching for homes that have…

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The housing market has been a seller's market throughout the pandemic, but is this still the case? The current trends are pointing towards an end to the real estate market conditions that created a bonanza for sellers. Many issues created a high-pressure market environment severely skewed in favor of sellers. From sky-high home prices, intense competition between buyers, and tactical play from sellers waiting for the right moment to put their homes for sale. 

It's worth saying outright: things are changing, and there are things home sellers need to be aware of today that weren't true last year. Here's what they are:

1. Home prices growth is returning to pre-pandemic levels

This is not the same as saying home prices are…

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As the market continues to shift, more and more questions are being asked about how home prices will behave in the coming months. Will home prices continue to rise, or will they finally start to come down? If you’ve been interested in selling your home and/or buying a new one but have been intimidated by the fast-moving market, you’re in the right place. This post will explore real estate market conditions and when we may start to see home prices drop.

Rising Interest Rates: What They Mean for the Real Estate Market

The cost of buying a home skyrocketed by more than 20% across the country in April of this year compared to last year. In some cities, that number was even higher, including:

  • 34.8% in Tampa
  • 32.4% in…

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You may have heard that changing market conditions have created a seller's market that is forcing buyers to spend a lot of money. People in many areas are experiencing housing shortages that make the seller's market strong. When you don't have enough supply to meet demand, you can expect to pay higher prices.

Changing market conditions can make it challenging to purchase real estate right now. They don't make it impossible, though. As the Fed increased interest rates again, you need to work closely with a real estate agent and mortgage broker that can get you a fair deal. You will not believe how much money you save when you lower your interest rate by a small amount.

Of course, it helps to have a real estate professional searching for ways…

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The Wild Wild West housing market had many people in panic mode — worrying that if they don't act now, they may never be able to buy a house amid record-high housing prices and increasing interest rates. With the ever-changing market conditions of today, hopeful homebuyers may be in a better position to act. It’s very important to remember that no matter what the market is doing, buying a home is something you shouldn't rush into. 

A mortgage is one of the biggest — and most important — responsibilities you’ll have in your life. Entering into home ownership before you are ready could have negative impacts on your financial health. In this post, we will take you through some steps to help you decide whether or not you are actually ready to…

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Expert Forecast: Predictions for the Rest of the 2022 Real Estate Market

Rarely have rising interest rates been seen as a good thing in real estate circles. But in the current seller's market, higher mortgage financing rates are viewed as a potential solution to runaway price appreciation in many markets across the country. However, few experts believe that rate increases will substantially reduce the current demand, nor can higher rates be expected to affect sales numbers to any great extent, at least for the second half of this year. 

Higher prices and an increasingly short supply of homes have caused some buyers to be effectively priced out of the market. The existing increase in rental prices only serves to accentuate the problem.…

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What Does This Mean for Single Family Homes Buyers?

Prices have skyrocketed in city limits.  Many home buyers are experiencing appreciation at a fast rate.  The number of homes going under contract has greatly gone up and the lack of new listings hitting the market are stoking bidding wars.  The list price to sales price has actually slightly decreased, but some of this may have to do with the age of homes that were purchased during this time period, or people got a little lucky with a slightly slower Christmas market. Christmas was still great so do not think it was a slow time, investors tend to get anxious when their homes sit on the market for a week or two.

  •   Average Sales Price for Single Family Homes have gone up a whopping 43.9% with the…

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Real Estate Market Update | Bozeman City Limits December 2021

Statistics from Big Sky Country MLS for December 2021 have been released! So let's compare it to November 2020 

  • Average Sales Price for Single Family Homes has gone up 18%, vs the whopping 43% increase for Condo/Townhomes in Bozeman from December 2020 to December 2021. 
  • Closed Sales were down by 2.5% for Single Family Homes similar to Condo/Townhomes have decreased by 2.6% in the last year. 
  • Inventory of Single Family Homes for Sale has seen a decrease of 33% vs the Inventory for Condo/Townhomes for sale has decreased by 59%. with a total of 9. 
  • The Percent of List Price Received for Single Family Homes has decreased slightly by 1% which is similar to Condo/Townhomes that have increased by .1%.

Source: Big Sky Country MLS

If…

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Real Estate Market Update | Bozeman City Limits November 2021Statistics from Big Sky Country MLS for November 2021 have been released! So let's compare it to November 2020 

  • Average Sales Price for Single Family Homes has gone up 6%, vs Condo/Townhomes in Bozeman which have increased to 20% from October 2020 to October 2021. 
  • Closed Sales have had no change for Single Family Homes whereas Condo/Townhomes have increased by 20% in the last year. 
  • Inventory of Single Family Homes for Sale has seen an increase of 11% totally to 29 vs the Inventory for Condo/Townhomes for sale has decreased by 40%. with a total of 16. 
  • The Percent of List Price Received for Single Family Homes has increased by 99% which is similar to Condo/Townhomes that have increased by 100%.

Source: Big Sky Country MLS

If you…

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Real Estate Market Update | Bozeman City Limits October 2021Statistics from Big Sky Country MLS for October 2021 have been released! So let's compare it to October 2020 

  • Average Sales Price for Single Family Homes has gone up 30%, vs Condo/Townhomes in Bozeman which have increased to 43% from October 2020 to October 2021. 
  • Closed Sales have begun to decrease for Single Family Homes by 28%, whereas Condo/Townhomes have also decreased by 37.5% in the last year - similar to last month. 
  • Inventory of Single Family Homes for Sale has seen a decrease of -4.9 with a total of 39%, vs the Inventory for Condo/Townhomes for sale has also decreased by -24.2%. with a total of 25. 
  • The Percent of List Price Received for Single Family Homes has increased by 101.1% which is similar to Condo/Townhomes that have…

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