STATEN ISLAND, N.Y. (May 30, 2013) — According to an article in today’s online edition of REALTOR® Magazine, home sellers are now in the driver’s seat when it comes to transactions. The article is fueled by a recent survey of home buyers and home shoppers.
The folks at the Staten Island Board of Realtors (SIBOR) are curious to know if Staten Islanders agree with the outcome of the poll, which finds that more shoppers are will to compromise their home-buying desires because they fear losing out to competing offers.
The article states:
The housing recovery has “transformed the mind-set of many buyers and sellers who grew accustomed to the buyers’ market we saw for years,” says Rick Davidson, CEO of Century 21. “Buyer confidence is building back up and demand is strong… sellers are now in a more favorable position.”
Eight-five percent of 365 home buyers recently surveyed by the real estate brokerage said they are willing to make compromises when buying a home in order to get a transaction complete.
Tighter inventories of for-sale homes have prompted more buyers to get less picky and to realize that they’ll face competing offers when trying to purchase a home.
The Century 21 survey found that 42 percent of home buyers surveyed said they’ve submitted an offer on a home in the past six months but only 11 percent of their offers have been accepted.
Home shoppers are realizing they may need to have to compromise more in order to get the house they want. For example, more than half of the buyers surveyed said they’d be flexible on the closing date, and 31 percent said they’d purchase a home “as-is.” Twenty-nine percent said they’d be willing to offer up more cash than they originally planned to in order to close on a deal.
Home buyers also say they’re willing to budge on their wishlists. The items they’re most willing to give up: an in-ground pool, a finished basement, and an updated kitchen or walk-in closets, according to the survey.
If you recently purchased a home on Staten Island, let us know your thoughts. Were you “willing to make compromises when buying a home in order to get a transaction complete?” Let us know your thoughts on our Facebook page: Staten Island Board of Realtors.
About The Staten Island Board of REALTORS® (SIBOR)
The Staten Island Board of REALTORS® (SIBOR) is the largest not-for-profit trade association in Staten Island, N.Y.
SIBOR exists to enhance the ability and opportunity of its members to conduct their business successfully and ethically; and to promote the preservation of the public’s right to own, transfer and use real property.
Comprised of over 1,600 members, SIBOR serves real estate agents, brokers and affiliated professionals throughout the borough and surrounding areas.
SIBOR is the provider of the Staten Island Multiple Listing Service Inc. (SIMLS), which works as a clearinghouse through which more than 250 local real estate firms exchange information on properties they have listed for sale. Together, its members participate in over 3,000 real estate transactions every year.
All SIBOR members belong to the New York State Association of REALTORS® (NYSAR) and the National Association of REALTORS® (NAR).
SIBOR may be reached at 718-979-0007 and viewed online athttp://siborrealtors.com. SIBOR may also be visited on Facebook at “Staten Island Board of Realtors,” on Twitter via @SIBOR, and on YouTube at theStaten Island Board of Realtors and RelevantPR channels.
Media Contact: Barton Horowitz