What’s the market like in Northeast Pennsylvania?
Whether you’re a buyer or a seller, understanding the demand in real estate is very important when negotiating your contract. 2025 has been another year for sellers, with the demand still high in most areas of the market, whether it’s single family homes, or investment opportunities. Buyers often are competing with other buyers in bidding wars, however it is nothing like it was just a few years ago.
The banking professionals are not anticipating any significant interest rate drops over the next few years so many homeowners are pushing off selling their home simply because they do not want to lose their low rate. However, if you are a seller without a low rate, or have 100% equity in your home, this may be the PERFECT time to consider selling if you have been weighing your options. With fewer homes on the market, buyers will make a generous and aggressive offer if they know they are competing with several other buyers and especially if they are up against a personal timeline to buy. We see this often and including “Escalation Addendums” to offers is quite common. It’s also not uncommon for buyers to waive contingencies such as inspections just to make their offer seem more competitive.
When you are considering either selling or purchasing a home, you should know what role you play and how to use negotiating techniques to your advantage. We will discuss more about some of these techniques in other blogs to better help you understand some of what we see on a daily basis.