Compass Executive Vice President Mike Aubrey argues the market will remain 'very strong' in 2022 despite expected rising rates and low inventory."A neutral market is six months for a house to be on-market: 180 days," Ryan Ross, realtor at New Jersey-based Weichert, Realtors, tells FOX Business. are seeing houses go over-asking in 30 days, Ross says. "This is an extreme seller's market, and has been for almost a year," he adds.
Ross said that if buyers don’t through with an inspection, they could end up paying for asbestos, underground oil tanks, plumbing issues and more "which could cost hundreds of thousands of dollars." Jason Gelios, Michigan realtor and real estate author shares that he also considers the biggest mistake home buyers can make is waiving the home inspection "in an effort to have their offer stand out."
For potential homebuyers, it appears things may be tipping in their favor after a wildly competitive 2021.
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