Last year was a wild year for the housing market. Home prices soared, interest rates dropped, and inventory dwindled—hello seller’s market! It was one of the most active real estate markets in a decade. After all of that, what can buyers, sellers, and agents expect from the market as we go through 2021?
Each step of the home buying and selling process is fragile. It’s not over, until keys are in hand! And while each house journey is unique, many of the underlying reasons that home sales fall through are similar. Here are a few reasons why this frustrating situation is so common and what you can do about it.
Selling your home can be stressful and surprisingly expensive. Unfortunately home sales fall through for lots of different reasons and can happen at any stage in the process—nothing is final until it’s final! The easiest way to ensure a seamless home selling journey is to go with a buyer who offers all cash. This offer can eliminate many of the main issues, including appraisal and inspection contingencies, negotiation failures, and issues with lenders.
This year has been quite the rollercoaster for the real estate market. However, with a record setting year coming to a close, it’s clear that the market was able to adapt and even thrive during these uncertain times. Will that be the case in 2021? Are these changes here to stay? How can you prepare? All good questions! Let’s dive in.
It’s been a big and weird year, but the housing market has seen huge gains—with mortgage applications 33% higher than in 2019. Some digital mortgage firms have even seen up to a 40% increase in purchase applications.
The holiday season is always a time to take a moment for gratitude and to give thanks. This year it feels particularly important. We started Ribbon to make homeownership achievable for all. To ensure that families can get the homes they love. We recently received a story from a client that filled our hearts. It’s why we do what we do. We thought we’d share to remind everyone that we’re here to help—and it’s an honor to be able to.
In 2020, first time home buyers make up 33% of the buying market. That’s a large group! So, there’s a good chance you’ll work with some, or already are. Understandably, this category needs a different type of support from their real estate agents. Here’s how you can help them and make the most out of your client relationships: