Is the real estate market to hot for most buyers?
By Thomas Santore Lic Associate Real Estate Broker, Realtor®-ABR-Land, Residential & Commercial Sa
(Coldwell Banker Realty/Coldwell Banker Commercial NRT)
Is the real estate market to hot for most buyers?The current real estate market is extremely competitive, and for many buyers, it feels too hot to handle. Several factors contribute to this:1. Low Inventory Driving CompetitionIn areas like Yorktown and Cortlandt, there are far more buyers than available homes or land parcels. This imbalance creates bidding wars, causing properties to sell quickly, often above asking price. In some cases, buyers are waiving contingencies just to remain competitive, which can be risky.2. Mortgage Rates Adding PressureWhile mortgage rates have come down slightly from their peak, they’re still much higher than the ultra-low rates of a few years ago. Many buyers who would otherwise be in the market are hesitant due to affordability concerns, while homeowners...
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