Homebuyers lucky enough to win a bidding war for a property are increasingly running headlong into appraisals that don’t match — or even come close to — the agreed sales price, leaving them with limited ways to close the sale.
A market with limited inventory and swarms of buyers can be stressful for everybody. But it’s especially challenging for first-time homebuyers — and their agents. From Houston to Chicago, from Miami to Boston, agents are relying on creativity, hustle and candid conversations to help get their entry-level buyers over the threshold of their first home.
Low barrier to entry: It’s one of the best things about the real estate industry — and also one of the worst.
Getting started is easy; moving forward is hard, particularly for Black agents
If Realtors, lenders and homebuyers are the stars of the real estate show, Fannie and Freddie are the unseen producers who bankroll the production from backstage.