Home Sellers Face Challenge in Buying New Residences #realestate #investment #homeownership

Source:  National Mortgage Professionals

In a survey of 800 real estate agents working with the Redfin brokerage, 65.6 percent of respondents said that low inventory was the greatest challenge facing the sellers in their markets.  And the homes that are available become very popular very quickly:  57.2 percent respondents reported being involved in at least one instance of a home receiving 10 or more offers this year; a mere 1.8 percent of agents said they yet to be involved in a bidding war.

Some agents recommend sellers move ahead with their home sale before securing the purchase of a new home and consider temporary rental options, or moving in with relatives after they sell.  This strategy allows sellers to take the time they need to find their dream house, know exactly what they'll have to work with financially, and won't end up adding unnecessary contingencies to offers, which will give them a better chance to get the home.

Check out the full story here:  http://nationalmortgageprofessional.com/news/62602/home-sellers-face-challenge-buying-residences

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