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Do homebuyers want the same things in their next home as they did before the COVID pandemic? In some ways, yes, and in others, no. According to the latest summer Realtor.com survey, post-COVID homebuyers are willing to spend more money on a home, have saved more money toward a down payment as they sheltered in place, and plan to buy a home sooner than they did in the spring of 2020.
There are certain rules to the marketing of real estate that are designed to prevent buyer confusion and to protect sellers from misrepresenting their properties, but sometimes real estate isn’t so black and white. Here are some areas to question.
In mid-March, borrowing rates were slashed to banks to nearly zero percent and announced it would buy at least $700 billion in government bond purchases, channeling about $200 billion of the stimulus into mortgage-related bonds. Not since 2008 has the central bank made such a dramatic move to stave off the effects of a pandemic economic recession.
Home buyers and home sellers want to know one thing – how much a home is worth. Fair market comparable data, assessments and appraisals are all relevant ways to determine value, but all values are not the same. So what are the differences?
In 2019, the National Association of REALTORS reported that 18% of home buyers were single females, compared to nine percent of single males. From this data, it’s clear that single women see homeownership as an important way to provide themselves with more stability and financial security.
Companies use color trends to boost brand awareness and product sales, but the research behind colors and how they impact consumers is anything but arbitrary. Color trends aim to appeal to emotions caused by world events, history and cultures, the economy, and the human need for change.
Sometimes, buyers and sellers can behave like adversaries. Both sides want to “win,” often sabotaging the transaction irreparably. No one wins if the home doesn’t sell.
So how can you win and keep things civil?
Here’s a case for buying a less expensive home than you secretly want.
The comparison market analysis, otherwise known as a CMA, is an analytics tool real estate professionals use to help sellers learn what homes similar to theirs in size, age, and features have sold for, and buyers learn how close to asking price homes have sold for so they have a better idea how much to offer.