The market is giving buyers more room to negotiate than we’ve seen in recent years.
Nearly 44.7% of U.S. home purchases in August included a seller concession which can include closing costs, repair credits, mortgage rate buy downs and other negotiated expenses.
With more homes available and some properties sitting longer on the market, sellers may be more willing to work with serious buyers.
And price isn’t the only thing worth negotiating. Buyers may also be able to discuss:
• Seller paid closing costs
• Rate buydowns
• Repair credits
• Closing timelines
• Certain personal property
That doesn’t mean every home is a bargain. Well priced homes in desirable areas can still attract strong interest.
For buyers, the opportunity is knowing where there may be flexibility and what terms could provide the most value.
For sellers, pricing and presentation matter more when buyers have more options.
Thinking about buying or selling in Reno? Connect with the Landeck Real Estate Team to talk through today’s market and your options.
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