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10 • SATURDAY, SEPTEMBER 18, 2021 • DIGEST OF HOMES
Tips for home buyers during a seller’s market
THERE IS NO SUBSTITUTE
FOR EXPERIENCE
Debbie Painter-Benning
REALTOR
Coldwell Banker Fox Chapel
17 Brilliant Avenue, Pittsburgh, PA 15215
C: 412.417.0519 | O: 412.963.7655
debbie.painter@pittsburghmoves.com
debbiepainter.cbintouch.com
REALTY
Not intended as a solicitation if your property is already listed by another broker. Affiliated real estate agents are independent contractor sales associates, not employees. ©2020 Coldwell Banker.
All Rights Reserved. Coldwell Banker and the Coldwell Banker logos are trademarks of Coldwell Banker Real Estate LLC. The Coldwell Banker® System is comprised of company owned offices
which are owned by a subsidiary of Realogy Brokerage Group LLC and franchised offices which are independently owned and operated. The Coldwell Baker System fully supports the principles of
the Fair Housing Act and the Equal Opportunity Act.
adno=195031
A Full Time Agent since 1980, I have seen the market
fluctuate many times. I know this market well. I’ve lived
in the Alle-Kiski Valley all of my life!! As a consistent
multi-million $$$ PRODUCER, I promise to use the
best Coldwell Banker marketing tools for Selling
your home! As a buyer agent, I am willing to go
the “extra mile” for you! I will do whatever it takes...
TO GET YOUR HOUSE MOVING!!!
Still serving the Valley with
over 41 years experience.
Amy Johnson
724-980-8898
Julie Kelley
724-989-8495
Stephanie Furnier
724-448-1998
Kaaren Kasanicky
724-859-7237
Real Estate Mortgage Title Insurance ALLEGHENY VALLEY OFFICE
NEW KENSINGTON/ MT VERNON
Welcome Home to 343 Riverview Drive! Beautiful Refinished Hard wood Floors
Throughout, All of the Original Woodwork and Character, Built-ins, Chrystal Door
Knobs, Laundry Chute. Remodeled Bathroom. 2nd Floor Veranda with Plenty of Natural
Light. Garage Access from Alley Behind, Workshop and Plenty of Off-Street Parking.
MLS#1509583 $124,900
Amy Johnson 724-980-8898
902 GARDEN CITY DRIVE
MONROEVILLE 15146
2 story brick 4 BR home with 3 full,
1 half BA. Impeccable landscaping,
gorgeous stone entry. Spacious
living room, and dinning room,
endless possibilities! Beautiful
glazed cabinetry in large kitchen
with stainless steel appliances and
sliding glass doors onto the deck.
Updated full bath upstairs. Owners
suite with private full bath. Lower Level Jacuzzi spa bathroom in sizeable
game room with walk out access to patio and backyard. Perfect for
entertaining. Many updates within the last 6 years!
MLS # 1517081 $319,000
Julie Kelley & Stephanie Furnier 724-989-8495 / 724-448-1998
KEPPLE HILL
adno=195436
Beautifully Updated 3 Bedroom, 2 Full Bath Home. Convenient First Floor
Laundry! Hardwood Floors, New Carpet, Formal Dining Room, Spacious Kitchen
with Access to Large Covered Back Porch, Perfect Place to Entertain! Beautifully
Manicured Level Lawn, Plenty of Off- St Parking, Storage Shed . Move Right In!
MLS# 1516752 $125,000
Amy Johnson 724-980-8898
300 13TH ST. FORD CITY
Totally new construction. Great location, commercial, 8 rooms,
handicapped bathroom, special effects ceiling lighting. A must see.
MLS 1514188 $285,000
Kaaren Kasanicky 724-859-7237
www.howardhanna.com
&
A combination of factors, including low
interest rates and a pandemic-driven
decision by many city dwellers to look
for houses in the suburbs, has created a
housing boom for much of 2020 and 2021.
That boom has created an undeniable
seller’s market in real estate.
Just what is a seller’s market? The
financial resource Investopedia defines
it as a marketplace in which there are
fewer goods for sale than there are interested
buyers, giving sellers the ability
to dictate prices. Since mid-2020, there
has been an extremely low inventory of
homes for sale but a very high interest
among purchasing parties.
Data from the National Association
of Realtors indicated that, by the end of
February 2021, housing inventory fell to
a record low of 1.02 million units. These
factors have led to a surge in competition
from buyers, including bidding wars on
homes and all-cash offers to entice sellers.
In December 2020, the median listing
prices for single-family homes shot up
13.4 percent from the same time the previous
year, according to Realtor.com, and
it hasn’t slowed down much since.
Jeffrey Mezger, a 40-year veteran of
the real estate industry and CEO of KB
Home, says it’s the best seller’s housing
market he’s seen in his career.
So where does this leave buyers interested
in relocating? Here are some tips.
• Consider areas with slower
overall price growth. Experts say the
southern and midwestern United States
offer the best value for home shoppers
because of their meager price growth.
ClearCapital, which tracks housing values,
says San Antonio, St. Louis and the
Dallas/Fort Worth areas experienced
the least price appreciation from 2019
into 2020.
• Get preapproval or have your
funds ready. Speed is the way to go if
a buyer is interested in a property and
wants to make an offer. Real estate professionals
say buyers should be “offer
ready,” which means having a mortgage
preapproval letter or proof of funds for
a down payment ready to go. Failure to
have funds in check can slow down the
process or compel sellers to reject an
offer.
• Work with a real estate agent.
These are complicated times and it pays
for buyers to have a professional working
in their corner. A real estate agent
uses his or her knowledge to make a
timely offer and negotiate on the buyer’s
behalf. He or she also will provide
insight into specific neighborhoods,
amenities and school districts.
• Eliminate certain contingencies
from the equation. Contingencies
are factors that must be met before a
sale can go through, according to the
relocation site Moving.com. A common
contingency is the need to sell one’s
current home before closing on another.
Asking for extended closing periods or
certain home repairs are some additional
contingencies that can make
buyers less attractive to sellers.
• Make it personal. Buyers can
offer a personalized note with the offer
that may connect with the seller emotionally
and set one them apart from
others who have made similar offers.
METRO CREATIVE
METRO CREATIVE