For the past couple years, homes have been selling fast and home values have been increasing at record-breaking rates. The inventory of listed homes on the market has been historically low. This is starting to change, however.
There is a lot of news in the media about the real estate market starting to cool down for sellers and balance out for buyers.
The real estate market is starting to show signs of balancing. This means that the sizzling hot seller's market will be softening up a bit. It won't turn into a buyer's market right away. In fact, home values are still rising.
Home buyers almost always have a professional home inspection performed by a licensed inspection company when they purchase a home. However, it is not a bad idea for sellers to have a home inspection, or pre-listing home inspection, performed as well.
Inflation rates have been high and there is talk of a recession. Sound familiar? This was a similar story back in 2008. Back then the economy dove down into a deep recession and home values plummeted.
Home sellers have been reaping the rewards as home values have risen over the past couple years. However, they may have been leaving money on the table.
In many states across the country, it is required to have an attorney's representation for real estate transactions.
One important aspect of the home-buying process is earnest money. Earnest money is the money a buyer offers to have deposited at contract time to show he is earnest or serious about purchasing the home.
Title companies play a significant role in real estate transactions. In fact, they play quite a few roles. With home values rising and buyers paying high prices for homes, title companies' roles are more important than ever.