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“On top of that, what else is poaching demand from the Manhattan rental market is Brooklyn.” Manhattan landlords agreed to offer concessions, such as a month’s free rent, on 7.2 percent of all new leases in November, up from 4.2 percent a year earlier.
Demand for homes is fantastic, but actually being able to negotiate a contract is a challenge and closing the deal is almost as tough. If my experience is typical in the market, I would say the average buyer is writing a minimum of five to six offers and I have heard of people making more than a dozen to finally get a property under contract.
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Appraisals: When Demand Outpaces the Market – American Liberty Mortgage, Inc. – Orlando, Florida Joseph Caposella Senior Loan Officer | NMLS #38260 NJ Lenders Corp. Little Falls NJ Lenders Corp. Mortgage Professional Reviews
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The market has now changed to a "sellers market." It is the seller who makes the decisions about multiple offers; it is the buyer who makes decisions about counter-offers. The best decision is to come to a mutual agreement where everyone wins.
· Appraisals for newly built green homes do not fully reflect the cost of green technology, and the lower appraisal values mean buyers often cannot get the full financing they need from banks.