This is a question clients frequently ask me. The general rule for our area is 1-2% of the list price. If you are low-balling, it is generally better to offer more earnest money so that the sellers understand that you have the financial resources to pay for the home (it is just that you disagree [...]
Archive for June, 2009
Filed under buyers
Are You Watching Interest Rates?
If you locked in two weeks ago, it could have cost you thousands of dollars. Rates went way up at the beginning of June, and over the last five days, they’ve come way down.
You can’t predict where interest rates are going, but you can lock in when they’re low. And, right now they’re low. In [...]
Comments Off Laura on Jun 18th 2009
In today’s market, appraisals are pretty strict. If the contract price of a home can’t be supported by comparable properties in the area, the home won’t appraise out.
In other words, if a seller can get a buyer to over-pay for a home, or if a buyer overpays in the heat of a dual offer, the [...]
Comments Off Laura on Jun 4th 2009
Filed under market stats
The Problem with Real Estate Statistics
The problem with real estate statistics is that by the time you get the data, the news is old. The market has changed, and more importantly, the season it covers has passed.
The best reports tend to be quarterly because those reports show trends more than the monthly reports, which can over-emphasize blips or anomalies in [...]
Comments Off Laura on Jun 2nd 2009
