Lehigh Valley Real Estate Blog, Home Buying & Selling Information

Lehigh Valley September Real Estate Market Update

 

Each month the data about Real Estate in the Lehigh Valley is compiled into a comprehensive report. The reports are broken down into Lehigh and Northampton Counties. These reports include the number of new home listings each month, how many homes have gone under agreement plus other special information about the Lehigh Valley Real Estate market.

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Northampton County

Lehigh County

For more information about Lehigh Valley Real Estate, visit www.lehighvalleyhomesonline.com.

Lehigh Valley Halloween Attractions, Haunted Houses and other Scary Events

The month of October brings Haunts and Thrills to the Lehigh Valley and the surrounding areas as Halloween approaches. Haunted Houses and Hayrides are just some of the local fun.

You can spend a Saturday or Sunday afternoon taking the family to a local pumpkin patch or travel through mazes of corn at some of the local farms.

At night, get prepared for some of the scariest experiences in your life.

View the Complete List of Lehigh Valley Halloween Attractions

Lehigh Valley First Time Home Buyers Face Multiple Bids

 
With interest rates at an all time low (~4.25% - 4.50%), the Lehigh Valley DOES HAVE motivated home buyers. Many of the home buyers are first time home buyers.

These "future" home buyers may be faced with a desolate market depending on their price range and location. 

Because of the negative news, Lehigh Valley Home Sellers are holding off from listing their homes. In some situations, the home buyer may be faced with slim pickings.

Then when a really nice property comes on the market, priced correctly, all of sudden the home buyer is facing a multiple bid situation. "Two other buyers want the property!".

That low offer they were thinking about making just went right out the window. In addition, they were planning on asking for sellers assist to help cover the closing costs. What if the other buyers don't need it?

The home buyer may still have a chance of getting the house.

The offering price and sellers assist do affect how much the seller is getting for the home. Also, it is correct thinking to believe the price is the most important factor BUT the agreement of sale covers many other options that could cause a home seller to select a contract with a lower purchase price. For instance:

Closing Date
Deposits
Inspections
Contingencies

these and other items all work together with the purchase price to make the complete offer on the house. A closing date may be critical to a home seller depending on their situation.

One thing that may help is if the Lehigh Valley Home Buyer gets on an automated system to receive the latest listings 24/7. If interested, I provide a solution at www.lehighvalleyhomelistings.com.

Another thing that may help is to make an offer on a house when you see it. I have seen more than one home buyer lose a house because they wanted to think about it or see more houses just in case another was nicer.

I have also seen buyers end up in multiple bid situations on a houses that were older listings. A price decrease may have made an older listing more attractive and all of a sudden more than one buyer wants the property. Makes you sorry you didn't make an offer right before they dropped the price doesn't it?

In the current real estate market, many home buyers don't want to get faced with a multiple bid situation but when the right house comes on the market sometimes it can't be avoided. The options you select on the agreement of sale can make the difference.

For more information about Lehigh Valley Real Estate visit www.lehighvalleyhomesonline.com.