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5 Tips for Thriving in a Low-Inventory Market

Lab Coat Agents

home listings are well below where they were pre-pandemic. Instead of relying on the MLS alone, explore off-market opportunities. probate attorneys, divorce lawyers, and financial advisors), and scouring public records for owners of pre-foreclosure and tax-delinquent properties. However, active U.S.

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What Is a Bumpable Buyer? How Bumpable Offers Impact Your House Hunting

Redfin

Time to prepare: a bumpable status gives you a window to get pre-approved and prepare a strong offer. Submit a pre-approval letter: Show sellers you’re financially ready and serious by including a pre-approval with your offer. How can I tell if a home is bumpable?

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How online auctions deliver on the promise of pre-foreclosure sales

Housing Wire

The great promise of short sales and other distressed pre-foreclosure sales as a foreclosure alternative is most fully realized in a competitive and transparent online auction marketplace, according to recent data from the Auction.com Market Validation Program (MVP) for pre-foreclosure sales. Pre-Foreclosure Potential.

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What Does ‘Under Contract’ Mean on a Home Listing?

HomeLight

Oriana Shea , a top-rated agent in California who has been helping homebuyers for 26 years, says that, depending on local multiple list service (MLS) rules and where the property is located, a listing might actually be tagged as “contingent” rather than under contract. What contingencies might be attached to ‘under contract’ listings?

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How to Find Short Sale Homes: A Guide for Buyers

HomeLight

“People had done 100% financing on their homes,” says Jessica Wallace , a top-selling agent based in the Santa Cruz, California area, so they had zero equity when “the market dropped 10%.”. More recently, however, the hot market of 2021-2022 saw homeowners with mortgages increase the equity in their homes by 27.8%

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How To Buy and Sell a Home at the Same Time—in Today’s Haywire, High-Interest Rate Housing Market

Realtor.com

The good news for home sellers is that over the past year, demand for homes has driven prices through the roof, pushing home equity to record levels. “Two-thirds of homeowners right now are sitting on a sub-4% mortgage, and about a quarter are sitting on a sub-3% mortgage,” says Lisa Sturtevant , chief economist of the Bright MLS.

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Buying a Short Sale Property? Your Guide to Short Sale Requirements for Buyers

HomeLight

” She adds, “You need a strong pre-qualification letter from a legitimate lender, and there’s no getting around that. There is a process you must follow to get pre-approved for a mortgage. And it’s even better if you can get pre-underwritten. Let’s take a more in-depth look at these requirements.