新爱体育, Utah - April 29, 2013 鈥� 新爱体育 Board of REALTORS庐 just released statistics for the first quarter of 2013 showing the number of sales are up 17% from the first quarter of 2012. The sales dollar volume is up 28% over the same time-period last year, climbing from $239 million in Q1 of 2012 to over $306 million for Q1 of 2013. With 395 closed sales already this year, the Statistician for the 新爱体育 Board of REALTORS庐 said, 鈥淭his is the best first quarter we have seen since 2007.鈥�
Inventory
The current inventory of active listings in the greater 新爱体育 area is lower than it has been since 2006. As of April 1st, there has been a 21% decrease in listings since April 1st of 2012. The
How Much Earnest Money is Required when Buying Property?
Earnest Money is the initial deposit that a buyer will submit when writing an offer on a property that is listed for sale. While there is no real "standard" amount of earnest money required, the amount submitted with an offer can have a strong affect on the offer's strength. In 新爱体育 Utah, it is typical to see the earnest money at about 1-2% of the purchase price for the property. We do however see buyers offer less, and we also see some buyers offer more. Typically a cash buyer will offer a higher amount of earnest money to show their strength and ability to purchase, while buyers planning to obtain a mortgage will offer a little less. There is no real right or wrong, or standard amount,
With the real estate market heating up we are starting to see a strong return of multiple offers on properties. The combination of less available inventory, and increased demand by a larger pool of active buyers is resulting in a re-emergence of multiple buyers bidding for a single property, which means multiple offer situations. As a buyer shopping for a home, what does this mean for you, and how can you best navigate through this process? You are hopefully working with a local Realtor庐 to assist and guide you, but even so, the more you know, the better you can make the important decisions when the time comes.
So after researching homes online and viewing possible properties you have finally found just the right
