330 Homes Spring 2023

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by ALEXANDRA SOBCZAK

BIG BUY Get expert tips on how to navigate the hot housing market.

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H omeowners were getting 15 to 20 bids when selling their houses last year, and generally the deal was done within a matter of 24 to 48 hours. Buyers were getting outbid left and right, and escalation clauses had them agreeing to pay more to keep up with demand. “I’ve been in the business 35 years. I’ve seen the

ebbs and flows in the market through the years. But what was different, what we’ve never seen, is these multiple offers, these escalation and gap clauses,” says Berkshire Hathaway real estate agent Leslee Salhany. As of February 2023, the market has cooled off a little bit, but there are still about seven or eight bids coming in

on some houses. “It’s the ones that are the shiniest apple in their tree [that get] multiple bids,” Salhany says. There are fewer cash offers now than before, more offers with Federal Housing Agency loans are being accepted and fewer buyers are forgoing home inspections to sweeten the deal.

“Last year, we saw so many buyers waiving their home inspection. It was concerning. … But now the buyers are doing home inspections. I’m so happy,” Salhany

says. “The current housing market is still very good.” She offers some tips on how homebuyers can navigate the hot housing market.

12 | 33 O HOMES spring 2023