With the real estate market now being a sellers’ market for the first time in years, it’s good for buyers to understand today’s home sellers. Here are three tips you should know about today’s sellers.
1. Many homeowners are in a negative equity position.
28 percent of homeowners have a mortgage that’s under water today. Many sellers have been hoping for prices to increase just a little bit. Some have outgrown their current home, are forced into a long commute, or simply want to move to a new town. But because of negative equity, they cannot. With a sellers’ market comes a gleam of hope. They may be grateful for any offer that allows them to get out at last.
2. Sellers are often buyers, too.
Often, sellers feel the same stress or excitement buyers feel because they’re in the process of buying, too. Though some will become renters after their sale is done, many…
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