Seller Concessions: A Smart Strategy To Get Your House Sold

For the past few years, it’s been mostly a seller’s market. But dynamics are shifting as the number of homes for sale grows. And that means that the market is balancing out a bit. As a result, some sellers are finding they need to be more flexible to close a deal. One strategy that can help? Offering concessions.

As the National Association of Realtors (NAR) explains:

“As home inventory begins to grow and buyers regain some advantage in the market, sellers may consider offering more in negotiations to make the deal more attractive and get to the closing table.”

What Are Seller Concessions? 

Concessions are homebuying costs that a seller agrees to cover as a way to get their house sold. And based on data from the National Association of Realtors (NAR), nearly 1 out of every 4 sellers (24%) offered a concession in 2024. Here are a few of the most common types of concessions:

• Covering Closing Costs: The seller pays for part (or all) of the buyer’s closing costs, like appraisal fees, title insurance, or loan fees. 
• Price Adjustments: Instead of making repairs, a seller might lower the purchase price to make up for updates the buyer will need to tackle. 
• Adding a Home Warranty: A seller may throw in a home warranty, giving the buyer peace of mind key repairs will be covered in the first year. 

And don’t worry. This doesn’t mean you have to come up with more cash to make it happen. These are things that get subtracted from your profits at closing – not more funds you have to bring to the table.  And not all concessions are about money.

There are other extras you could throw in. Like, if your buyer is coming from an apartment and has never had a yard before, they may ask if you’d be willing to leave your lawn mower behind. That’s another lever you could pull to keep them happy.

How Concessions Help Sellers 

Offering concessions can be a smart strategy for sellers to get a deal done. As Dennis Shirshikov, Professor of Finance and Economics, City University of New York/Queens College told The Mortgage Reports:

"Pricing homes realistically and being willing to offer concessions, such as covering a portion of closing costs or including upgrades, will be key to closing deals . . . in a less frenzied market.”

For example, let’s say you accepted an offer from a buyer, but after their inspection, you found out there are some repairs they want you to tackle before you hand over the keys.

Rather than starting at square one and searching for a new buyer, you could offer a concession. One option is you can take on the repairs and cover the costs yourself. But, if you really don’t want the hassle of dealing with contractors, you could reduce your price by however much repairs would cost. Alternatively, you could offer to pay a portion of your buyer’s closing expenses with the idea they’d use the money they saved at closing toward doing the repairs themselves.

Either way, a concession can be a great way to meet in the middle. However, it’s important to have an agent on your side to help with these negotiations.

A good real estate agent can help you decide when and how to offer concessions, so you don’t give away too much while still ensuring your house gets sold. It’s all about finding the right balance. 

Bottom Line

With the market becoming more balanced, seller concessions are coming back into play in some areas. The key is having an agent to help guide you through the process, so things work out in your favor. That’s where I come in.

What’s a concession you’d consider to move things along?

Why You’ll Love Owning a Home

Some Highlights

• Owning a home comes with many benefits, both non-financial and financial.
• From the sense of accomplishment and freedom of expression, to growing your net worth, it’s easy to fall in love with homeownership.
• What’s the top reason you’d love to own a home? Let me know and we’ll come up with a plan that makes it possible. 

Breaking Into the Market: Smart Moves for First-Time Buyers

If you’re like a lot of aspiring homebuyers, there’s a major hurdle standing in your way — the cost of living. From groceries to gas, eggs, and just about everything else, prices have gone up. And that rings true for home prices, too.

But even when everything feels expensive, there are still ways to make homeownership more than an item on your wish list. You may just need to think about where you plan to buy a bit differently.

Think of Your First Home as a Stepping Stone 

One of the biggest misconceptions among buyers is that their first home has to be their forever home – or that it has to check all the boxes of what they want right out of the gate. In reality, it’s just a starting point.

Once you own a home, you start to build equity, which grows over time as home prices rise. Down the road, if you want to move — whether to a larger space, a better location, or both — the equity you’ve gained can help you do just that.

So rather than waiting until you can afford your dream home in your ideal neighborhood, consider starting with something that works for now.

Expand Your Search To Find More Affordable Options 

If high home prices in your favorite area are holding you back, it’s time to cast a wider net. By keeping an open mind and being flexible with location, you may be surprised at what’s possible within your budget. Many buyers find success by looking in surrounding areas – and some even choose to move out of state.

According to a report from Realtor.com, these are some of the best markets for first-time homebuyers this year (see chart below):

Of course, moving to a different state isn’t for everyone – and isn’t a necessity. The right agent can help you find more cost-effective options wherever you are.

If you want to stay local, looking just outside your preferred neighborhood could help you find something you can afford that’s still pretty close to your favorite restaurants, shops, and activities. Sometimes, moving as little as 10 minutes away makes a big difference.

And the best way to see what’s available is to work with a real estate agent who understands the local market and can help you identify hidden gems nearby. An agent can point you to communities you may not have considered that have lower price tags now and are steadily gaining value and appeal. That way you can buy your first home and be set up to gain equity through the years.

Bottom Line

Today’s cost of living is a challenge for many homebuyers. But by exploring different areas and working with a knowledgeable agent, you can take that first step toward owning a home — and building equity for your future. 

How far outside of your area would you look to make homeownership happen? Let’s connect to chat through your options. 

The Real Benefits of Buying a Home This Year

Have you been wondering whether you should keep renting or finally make the leap into homeownership? It’s a big decision, and let’s be real — renting can feel like the easier option, especially if buying a home feels out of reach.

But here’s the thing: a recent report from Bank of America highlights that 70% of prospective buyers fear the long-term consequences of renting, including not building equity and dealing with rising rents.

Maybe you’re feeling that too — concerned about where renting might leave you down the road, but still unsure if you'd even be able to buy right now. The truth is, if you’re able to make the numbers work, buying a home has powerful long-term financial benefits.

Let’s break down why homeownership is worth considering in 2025 and beyond, and how it can help set you up for the future.

Buying Builds Wealth Over Time

Buying a home allows you to turn your monthly housing costs into a long-term investment. That’s because, as shown in data from the Census and the Department of Housing and Urban Development (HUD), home prices tend to increase over time (see graph below):

Rising home prices directly benefit homeowners. That’s because when you own a home, you build equity — meaning your ownership stake in your home grows as you pay down your mortgage and your home's value appreciates. And that, in turn, makes your net worth grow too.

Maybe that’s why, according to the National Association of Realtors (NAR), 79% of buyers believe owning a home is a good financial investment.

Renting Comes with Rising Costs

Renting may feel more affordable in the short term, especially right now with today’s home prices and mortgage rates. But the reality is, over time, rent almost always goes up too. Take a look at the data and you can see that play out. According to Census data, rents have significantly increased over the decades (see graph below):

This means if you decide to rent, you’ll likely face growing expenses each time you renew or sign a new lease – and that’ll happen without building any wealth in return. Plus, those rising costs may make it harder to save up to buy a home down the road.

Renting vs. Buying: The Long-Term Impact

When you own a home, your payments are an investment in your future. Renting, on the other hand, means your money is gone for good — it helps your landlord build equity, not you.

Renting works for those not ready (or able) to buy today. But if you are able to make the numbers work, buying a home builds equity and sets you up for long-term financial success. So, even though renting may seem easier now, it can’t match the benefits of homeownership.

Bottom Line

If you can afford it, take control of your financial future by making homeownership part of your plan. It’s an investment you won’t regret.

Do you want to see what starter homes are available in our market? Let’s connect today to explore your options.

3 Reasons To Buy a Home Before Spring

Let’s face it — buying a home can feel like a challenge with today’s mortgage rates. You might even be thinking, “Should I just wait until spring when more homes hit the market and rates might be lower?”

But here’s the thing, no one knows for sure where mortgage rates will go from here, and waiting could mean facing more competition, higher prices, and a lot more stress.

What if buying now — before the spring rush — might actually give you the upper hand? Here are three reasons why that just might be the case.

1. Less Competition from Other Buyers

The winter months tend to be quieter in the real estate market. Fewer people are actively looking for homes, which means you’ll likely face less competition when you make an offer. This makes the process feel less rushed and less stressful.

According to the National Association of Realtors (NAR), homes sit on the market longer in winter compared to spring and summer (see graph below):

Fewer buyers in the market means you’ll likely have more time to make thoughtful decisions. It also means you may have more negotiating power. According to the Alabama Association of Realtors:

“A significant benefit of buying a home in winter is the reduced competition. Because of the perceived benefits of spring, many buyers delay the start of their house hunt. As a result, you will find fewer people competing for the same properties during winter. Less demand can translate into more negotiating power as sellers may be more willing to entertain offers or agree to concessions to get a deal closed quickly.”

2. More Negotiating Power

With homes staying on the market longer, sellers may be more willing to negotiate. This can lead to better deals for you as a buyer, whether that means a lower price or added incentives, like sellers covering closing costs or making repairs. As Chen Zhao, an Economist at Redfin, points out:

“. . . buying during the off season means less competition from other buyers. That means potentially negotiating a better deal.”

Plus, when demand is lower, sellers often feel more pressure to work with serious buyers. This could give you an edge to negotiate terms that work best for your situation.

3. Lock in Today’s Prices Before They Rise

Historically, home prices tend to be at their lowest point in the winter months, too. According to data from NAR, home prices last year were at their lowest in January, February, and March — right before the spring buying season kicked in (see graph below):

This trend isn’t new — Bright MLS shows between 2010 and 2024, home prices in January and February were, on average, 15% lower than during the month of peak home prices (typically June). Buying in the off-season means you’re more likely to avoid paying the premium prices that come with the high demand of spring.

On top of that, home prices generally appreciate over time, meaning they tend to go up year after year. That means if you’re ready to buy and you can make it happen, you’re not only taking advantage of what might be the lowest prices of the year, but you’re also locking in today’s price before it increases in the future.

Bottom Line

While spring may seem like the obvious time to buy, moving before the peak season can give you significant advantages, like less competition, more negotiation power, and lower prices.

If you’re ready to explore your options, let’s connect.

Smaller Homes, Bigger Opportunities: The Homebuilder Trend Buyers Love

It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.

Builders Are Building Smaller Homes 

Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:

“The combination of higher home prices and mortgage rates has strained a lot of people's budgets. And that's something builders recognize. To this end, they may be leaning toward smaller spaces . . .That, in turn, can lead to savings for buyers.”

Data from the Census shows the overall builder trend toward smaller, single-family homes has been over the last couple of years (see graph below):

As the graph shows, the average size of a brand-new home has dropped from 2,309 square feet in Q3 2022 to 2,171 square feet in Q3 2024. That’s a difference of 138 square feet.

At the end of the day, builders want to build what they know will sell. And the number one thing homebuyers are looking for right now is less expensive options to help offset today’s affordability challenges. As Multi-Housing News notes:

“The growing trend toward smaller homes is evident. These homes are less expensive to build and more attainable for many middle-income families, meeting both housing needs and modern lifestyle preferences.”

The Benefits of These Brand-New Homes

So, if you’re having trouble finding a home in your budget, it might be worth exploring newly built homes with a smaller footprint.

Not to mention, since newly built homes come with brand new everything, they have fewer maintenance needs and some of the latest features available, like energy-efficient appliances and HVAC. That’ll help you save on repair costs and your monthly utility bills. Sounds like an all-around win.

Bottom Line

Today’s builders are focusing their efforts on smaller homes at lower price points. That could give you more opportunity to find something that fits your budget. If you're planning to buy soon, let’s connect to explore what's on the market in your area and get your homeownership goals over the finish line.

Why More People Are Buying Multi-Generational Homes Today

Today, 17% of homebuyers are choosing multi-generational homes — that’s when you buy a house with your parents, adult children, or even distant relatives. What makes that noteworthy is that 17% is actually the highest level ever recorded by the National Association of Realtors (NAR). But what’s driving the recent rise in multi-generational living?

Top Benefits of Choosing a Multi-Generational Home

In the past, homebuyers often opted for multi-generational homes to make it easier to care for their parents. And while that’s still a key reason, it’s not the only one. Right now, there’s another powerful motivator: affordability.

According to the latest data from NAR, cost savings are the main reason more people are choosing to live with family today.

The rising cost of homeownership is making it harder for many people to afford a home on their own. This has led to more families pooling their resources to make buying a home possible.

By combining incomes and sharing expenses like the mortgage, utility bills, and more, multi-generational living offers a way to overcome financial challenges that might otherwise put homeownership out of reach. As Rick Sharga, Founder and CEO at CJ Patrick Company, explains:

“There are a few ways to improve affordability, at least marginally. . . purchase a property with a family member — there are a growing number of multi-generational households across the country today, and affordability is one of the reasons for this.”

You may even find it helps you afford a bigger home than you would have been able to on your own. So, if you need more room, but can’t afford it with today’s rates and prices, this could be an option to still get the space you need.

On top of the financial benefits, it could also bring your family closer together and strengthen your bonds by getting more quality time together.

Bottom Line

If you’re considering a move, buying a multi-generational home might be worth exploring – especially if your budget is stretched too thin on your own.

Let’s discuss your needs and find a home that fits your family’s unique situation.