HUD Articles

This morket continues to be tight, with few homes to choose from, slightly rising prices and multiple offers, and interest rates higher than the norm of the past years.

Buyers remain discouraged, and complain that they are being priced out the markets they could have afforded a year otr two ago.

Escalation clauses, where the buyers make an offer amount, and also note that they will come up by a certain amount to beat another offer are becoming more common.  As you can imagine, this only leads to confusion,  a chance to overpay, and hard feelings.  

Here is some good advice for buyers.  Find a price you are comfortable with, dont get caught up in an auction price mentality, and be totally ready to see a home that fits your criteria immediately.  

Real estate is fluid, and what is the norm today, may have changed dramatically in a couple of months.  Be ready with a great preapproval and an open mind.