Veronica Dagher

speaker

3,082 appearances 51 recordings 1 series first heard Sep 2017 last heard Jan 2025

Veronica Dagher’s voice in public audio — every appearance, attributed to the second.

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WSJ Your Money Briefing · Job-Loss Fears Trigger Use of Homebuying Escape Clauses · 27 Mar 2023 podcast

Well, it's interesting because during the height of the pandemic-fueled housing frenzy, no contingencies on behalf of buyers were being asked for. matched

If you asked for a contingency, it was like, see you later. matched

You're not going to win this bid on this house. matched

There's too much competition. matched

Now, though... matched

It's a much different scenario. matched

Mortgage rates have almost doubled or more than doubled from where they were during the height of that frenzy. matched

We were at 7% interest rates on average for 30-year fixed mortgages just the other week. matched

And so because of the high interest rates on mortgages, there is less competition for houses right now. matched

And when there's less competition, less buyers out there, matched

buyers have more leverage. matched

In addition, there's a bit more inventory. matched

There's a bit more homes for sale this year than there were last year. matched

And because there's more choice, not a ton more choice, but there's more choice, that gives buyers more leverage because sellers, in many cases, aren't going to get those five offers that they might have gotten a year ago. matched

Maybe they're only getting one good offer. matched

And matched

If they have that one good offer at that price that they're looking for, they may be willing to work with you and agree to the contingency that you're looking for. matched

Well, one thing that we're seeing coming back, which is a nice thing for buyers, is that it's OK to ask for a home inspection contingency again. matched

Back in the day, meeting the height of the pandemic when the housing market was moving so quickly, matched

Many buyers were having to waive inspections and take that house as is. matched

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