Found 40 blog entries tagged as real estate market.

In a competitive real estate market, multiple offer situations can arise when there are several buyers interested in the same property. Navigating these situations requires careful planning, strategic decision-making, and effective negotiation skills. In this article, we will discuss tips and strategies to help you navigate multiple offer situations and increase your chances of success.

Understanding Multiple Offer Situations

Multiple offer situations occur when there are more than one interested buyer submitting offers on a property within a relatively short timeframe. These situations can create a competitive environment, driving up the sale price and putting pressure on buyers to submit their strongest offers.

Get Pre-Approved for a…

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So, you’ve been living in your very first home for a while now. You've enjoyed the joys and challenges of owning your very own place. But now, you find yourself contemplating a new adventure—selling your first home. Whether it's to upgrade to a larger space, downsize, or move to a new location, selling your home can be an exciting but overwhelming experience. Fear not! In this guide, we'll walk you through everything you need to know to prepare for a successful sale. Let's dive in!

Assess the Market

Before putting your home on the market, it's crucial to understand the current real estate market. Research recent sales in your area, consult with local experts, and gain insights into market trends. This knowledge will help you set realistic…

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Buying a home in a seller’s market can be a challenging task, especially when faced with multiple offers on the property you desire. However, with the right strategies and a solid understanding of the process, you can increase your chances of securing your dream home. In this blog post, we'll provide practical advice for home buyers, specifically tailored to the unique conditions of a seller’s market. Get ready to navigate the competitive landscape and come out on top!

Get Pre-Approved and Set a Budget

Before diving into the home search process, it's crucial to get pre-approved for a mortgage and determine your budget. This will not only help you understand your financial limitations but also demonstrate your seriousness to sellers. Having a…

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Get ready for a real estate rollercoaster ride! In May 2023, the MLS® System of the Newfoundland and Labrador Association of REALTORS® witnessed some fascinating twists and turns. Brace yourself for the numbers!

A total of 403 homes were sold that month, but hold on tight, because that's a 31.3% drop compared to May 2022. We're not reaching the heights we were hoping for.

In fact, home sales were 7% below the five-year average and 6% above the 10-year average for May. So, we're somewhere in the middle of the real estate spectrum.

Now, let's zoom out and take a look at the bigger picture. From January to May 2023, a total of 1,598 homes were sold, marking a 27.7% decline from the same period in 2022. We're definitely seeing some twists and…

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Are you a first-time homebuyer feeling overwhelmed by the process? Don't worry! We've got you covered. In this guide, we'll address the most common questions that first-time homebuyers like you often ask. From budget concerns to home inspections and neighborhood considerations, we'll provide expert answers to help you make informed decisions and navigate the exciting journey of purchasing your first home.

Questions About Budget

  1. How much should I budget for closing costs? Closing costs typically range from 2% to 5% of the purchase price. It's advisable to budget around 3% to 4% to account for expenses like appraisal fees, legal fees, and title insurance.
  2. What other costs should I consider besides the purchase price? In addition to the…

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CONDO

Short for condominium, is a type of real estate property where individuals own a specific unit within a larger building or complex.

If you're considering an investment that combines convenience, lifestyle, and financial gain, look no further than buying a condo. In this blog post, we'll explore the top reasons why purchasing a condo can be a smart and rewarding investment.

Low-Maintenance Lifestyle

One of the greatest advantages of condo living is the freedom from maintenance hassles. Say goodbye to mowing lawns, shoveling snow, and exterior repairs—condo associations typically handle these tasks, allowing you to enjoy your downtime stress-free. Spend your weekends exploring local attractions or pursuing your hobbies, knowing that…

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Welcome, future homeowners! Embarking on the journey of purchasing your first home is both thrilling and overwhelming. At RE/MAX Infinity, we understand the importance of finding the right home at the right price. In this article, we'll provide you with insightful and accurate tips that are not only informative but also enjoyable. So, let's dive in and discover how you can ensure you're getting a fair deal as a first-time homebuyer.

Develop Your Market Awareness

To become a savvy homebuyer, it's crucial to familiarize yourself with the local real estate market. Begin by researching the average prices of homes in your desired area. Pay attention to any fluctuations or properties that linger on the market for an extended period. This knowledge…

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Buying a home is an exciting milestone in life, but it can also be stressful, especially when you find yourself in a bidding war. When multiple buyers are vying for the same property, the price can quickly escalate, and it can be challenging to know how to proceed. However, with the right approach, you can increase your chances of winning the bid and securing your dream home. Here are some tips to help you come out on top in a bidding war.

Set a Realistic Budget

Before you start shopping for a home, it's essential to have a clear idea of your budget. Determine how much you can afford to spend and stick to it. This will help you avoid getting caught up in the heat of the moment and bidding beyond your means.

Get Pre-Approved for a…

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For many Canadians, the decision to rent or buy a home is a significant financial decision. With the cost of housing on the rise, especially in urban areas, it can be challenging to decide what's right for you. In this article, we'll explore the pros and cons of renting and buying a home for first-time homebuyers and those looking to transition from renting to owning.

Pros of Renting:
  1. Flexibility: Renting provides more flexibility than buying since you aren't tied down to a long-term commitment. You can easily move from one rental to another without worrying about selling a property or finding a new buyer.
  2. Lower upfront costs: Renting typically requires lower upfront costs than buying. You won't need to save for a down payment or pay for…

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