Real Estate Today
Winning Offers for Home Buyers and Sellers
Feb 21, 2025
Jeffrey Fagan, a seasoned REALTOR® and regional vice president at Watson Realty Corp., dives into the crucial role of appraisals in real estate. He reveals how sellers can maximize their home's appraisal value and discusses the advantages of pre-listing appraisals. The conversation also touches on strategies for buyers to make their offers more competitive in today’s market. Additionally, design expert Melissa Dittmann Tracey weighs in on kitchen trends, debating the popularity of black countertops versus traditional wood flooring.
27:57
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Quick takeaways
- Buyers should secure lender qualification letters and present appealing offers to strengthen their position in competitive real estate markets.
- Understanding the appraisal process and considering pre-listing appraisals can significantly impact a seller's pricing strategy and marketing efforts.
Deep dives
Impact of Economic Factors on Housing Market Trends
Recent concerns over tariffs, mortgage rates, and the number of unsold homes have significantly affected the housing market, leading to a notable drop in housing starts. In particular, single-family housing starts fell by 8.4% in January, contributing to a builder sentiment index that is at its lowest in five months. The rising costs of materials due to tariffs are influencing builders' decisions, with many anticipating that these increased costs will ultimately impact housing prices. As home price growth stalls, worries persist that prices may turn negative if mortgage rates remain elevated, further dampening demand in the market.
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