Buyers See Some Relief
Inventory in our area has increased some and the number of offers $10-$20k over asking have slowed somewhat. That said...one story homes priced under $300k are still getting multiple "over asking" offers. The increase in interest rate and slight increase in inventory has helped the buyers. Unless the seller has a huge equity position, we may see some homes being sold with the mortgage being assumed. Of course, the lender typically has to "approve" the buyer. If you are planning to sell and your loan can be "assumed"...be sure to talk to your Realtor. If you have a great deal of equity, it may not be an option for the buyer. As always, I'm here to help you with your real estate needs.