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Home seller concessions reach pre-pandemic levels

Housing Wire

In Q4 of 2022, 22% of Redfin’s home sales included a concession and lower listing price, while 19% included both a concession and a listing-price cut while the home was on the market. Sellers realize they’re not going to get $80,000 over the asking price like their neighbor did last year,” he added.

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Reverse purchase financing: The financing option no one is talking about

Housing Wire

1 With over 12,000 Americans turning 65 every day in 2024, this burgeoning market will undoubtedly continue to bring more buyers and sellers to the table over the next decade. The HECM for Purchase is not a refinancing tool; it is not akin to a Home Equity Line of Credit ( HELOC ). What is reverse purchase financing?

Finance 432
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Agent strategies for getting first-time homebuyers across the finish line

Housing Wire

However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

Agents 394
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Rocket launches program to lower first-year mortgage payments

Housing Wire

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage.

Mortgages 393
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Agent strategies for getting first-time homebuyers across the finish line

Real Trends

However, this rise in first-time buyers helps explain what’s driving demand and keeping upward pressure on prices in a market with mortgage rates currently surpassing 7%. One of the primary reasons for this surge is the strong presence of millennials in the housing market, particularly those at the peak, around ages 33 and 34.

Agents 99
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10 Ways to Reduce the Cash You Need to Buy a Rental Property

Realty Biz

The idea is that you create enough equity when you renovate the property to then take a cash-out refinance once renovations are finished. Negotiate a Seller Concession As my grandfather taught me growing up, you don’t get what you deserve in life; you get what you negotiate. Not all sellers will consider it, of course.

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How Much Should I Budget to Sell My House? Here’s the Average Cost

HomeLight

In this guide, we dive deep into what costs sellers should expect to pay. Keep in mind that fees may vary widely based on your location, market conditions, and whether your home requires repairs before selling. We detail what costs you’re likely to incur and what sellers pay on average. Seller concessions.