It wasn’t so long ago that you could shop for homes at your leisure, offer significantly below asking price and end up with a bargain. No more. In many parts of the country, buyers outnumber sellers, and homes listed for sale in the morning may be under contract by lunch. Homes in good condition in desirable neighborhoods draw multiple offers and often sell for more than the asking price. That means that buyers have to do their homework and be ready to pounce when they find the right house or condo. At the end of November, the latest statistics available from the National Association of Realtors, there was a 5.1-month supply of homes for sale nationwide; six months is considered a balanced market. We’ve asked the experts and have some advice for house-hunters that may prove invaluable. To see our tips, visit our sister site, Living on the Cheap.
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