July 2023 Real Estate News
TO FIND AN OPEN HOUSE IN GLENVIEW IL NORTHBROOK IL OR MORTON GROVE IL
Are you buying a home in any of these communities? Check out this Market Tracker
WHAT IS YOUR HOME WORTH? CHECK IT OUT!
This month’s July 2023 Real Estate News , we look at seller concessions, the increasing wealth gap between homeowners and renter, and price declines in some markets. We also look at six ways to economically beat the heat and maximizing your outdoor space for summer enjoyment. All of this and more in the July 2023 Real Estate News.
What are Seller Concessions?
Buying a home can be an expensive process. Enter seller concessions: These are costs associated with purchasing a home that a seller agrees to pay for the buyer. Rather than a buyer paying for these out-of-pocket expenses themselves, the seller agrees to cover the cost, allowing homeowners to sell their home quicker while helping to ease the financial burden on buyers.
How Do Concessions Benefit Sellers?
Buyers receive a clear benefit from concessions—they can save money when purchasing their new home. However, sellers can also benefit from offering concessions. In a buyers’ market, concessions may help attract more potential buyers, increasing the odds of a sale. In a high-price/high-interest market, concessions can make a property more appealing by presenting it as a more affordable option than the competition. A motivated seller can offer concessions to reduce the amount of time their property will likely remain on the market.
July 2023 Real Estate News
Thank You and Have a Great Day
Marina Jacobson
Broker, SFRDirect: 847-510-5009
Cell: 847-361-5605
Fax: 847-510-5109
Click Here For Your FREE Home Search
Your #1 Agent!
Certified Distressed Property Specialist
Search 1000’s of Homes at
www.MarinaJacobsonHomes.com
