So the media and buyer's think this is a buyer's market. As a Realtor I can tell you that it is not. Yes, prices are at their lowest in 10 years. However it is harder than ever to get an offer accepted. Buyers need to be aware that more than half of the homes on the market are being looked at to be approved by lenders. Buyer's do you want to know why your lower offers are not being accepted? Lenders know what the fair market value is and are not willing to give you concessions like, buyers closing costs, home warrantees, roof certifications, etc. together with a lower price offer. When you know that a lender is going to be approving your offer than you need to make it as clean as possible. Please be aware that if there are multiple offers a lower price is not going to get your offer accepted. It is very important that you work with a Realtor that knows the market trends in your area.
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