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How to Win a Bidding War In 2021

Redfin agents provide you with nine unique strategies to help homebuyers win that don’t require paying all cash or waiving contingencies. (Redfin)

Many buyers are becoming fatigued and disheartened after getting offer after offer rejected, so we asked Redfin agents to share the best unique strategies for winning bidding wars in 2021. The tactics below go beyond basic bidding-war techniques like waiving contingencies, offering all cash and/or above the asking price and free rent back, though buyers should also consider those strategies, which are often highly effective.
February 23, 2021, 4:46 pmby Tyler Cralle
The Blog

Nothing Changes. The Show Goes On

Federal Reserve Chairman Jerome Powell signaled that the central bank was nowhere close to pulling back on its support for the U.S. economy even as he voiced expectations for a return to normal activity by the end of this year. (Bloomberg)

“The economy is a long way from our employment and inflation goals, and it is likely to take some time for substantial further progress to be achieved,” he said in the text of testimony to be delivered Tuesday to the Senate Banking Committee.

 

February 23, 2021, 1:40 pmby Tyler Cralle
The Blog

Housing Prices Continue to Climb Pt. 2

U.S. house prices rose 10.8%  from the fourth quarter of 2019 to the fourth quarter of 2020 according to the Federal Housing Finance Agency House Price Index (FHFA)

“House prices nationwide recorded the largest annual and quarterly increase in the history of the FHFA HPI,” said Dr. Lynn Fisher, Deputy Director of FHFA’s Division of Research and Statistics. “Low mortgage rates, pent up demand from homebuyers, and a limited housing supply propelled every region of the country to experience faster growth in 2020 compared to a year ago despite the pandemic. In particular, house prices in western states and cities saw the highest rates of growth, where annual gains often rose above 10 percent.”
February 23, 2021, 11:50 amby Tyler Cralle
The Blog

Housing Prices Continue To Climb

The latest results for the S&P CoreLogic Case-Shiller Index showed double-digit gains to end 2020.  (CSI)

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 10.4% annual gain in December, up from 9.5% in the previous month. The 10-City Composite annual increase came in at 9.8%, up from 8.9% in the previous month. The 20-City Composite posted a 10.1% year-over-year gain, up from 9.2% in the previous month.
Phoenix, Seattle, and San Diego continued to report the highest year-over-year gains among the 19 cities (excluding Detroit) in December. Phoenix led the way with a 14.4% year-over-year price increase, followed by Seattle with a 13.6% increase and San Diego with a 13.0% increase. Eighteen of the 19 cities reported higher price increases in the year ending December 2020 versus the year ending November 2020.
February 23, 2021, 10:59 amby Tyler Cralle
The Blog

NEWSLETTER: Remote Work Could Be A Boon For Housing

In this morning’s newsletter we discuss how remote work could help continue the housing boom, lumber prices continue to soar increasing housing prices along with it, and U.S. manufacturing is struggling to keep up with demand
February 23, 2021, 8:08 amby Tyler Cralle
The Blog

Good Morning, World!

Happy Tuesday! We are 22 Days from St. Patrick’s Day & 40 Days from Easter

☕️ President Joe Biden faces first potential Cabinet defeat as opposition grows to budget pick (Washington Post), Democrats are scrambling to piece together a backup plan that could save their minimum wage hike from getting tossed out of President Joe Biden’s $1.9 trillion relief package (POLITICO), and the spread between the two-year Treasury yield and a key interest rate set by the Federal Reserve is the narrowest since the depths of the coronavirus market selloff (Wall Street Journal)

February 23, 2021, 6:34 amby Tyler Cralle

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