In a dramatic about-face for the housing market, sellers are now calling the shots.

A survey of more than 2,000 Americans found that 33% of the 365 who were searching for a home have been on the hunt for more than a year and many were willing to make compromises on where they live or the type of home they would buy in order to close the deal, Century 21 Real Estate reported Wednesday.
“The recovery has transformed the mindset of many buyers and sellers who grew accustomed to the buyers’ market we saw for years,” said Rick Davidson, CEO of Century 21. “Buyer confidence is

Currently, there are 2.16 million existing homes for sale, down 13.6% from 12 months earlier.

With fewer homes for sale and more buyers coming onto the market, sellers are less willing to negotiate on price like they were during the housing bust. According to the survey, 42% of the people shopping for homes have placed offers in the past six months, yet only 11% of the bids were accepted.

That has caused buyers to rethink their positions: 85% said they’re willing to compromise to get deals done. Just over half said they would be flexible on the closing date; 31% said they would purchase a home “as-is;” and 29% would pony up more cash than they originally planned.

The home shoppers said they are also willing to let go of some of the items on their “wish lists.”

More than half would give up on an in-ground pool. 49% would sacrifice a finished basement, and would be willing to hire basement crack repair professionals to take care of the basement themselves. Afterwards, they would think of having some renovations in lux basements. 37% would compromise on either an updated kitchen or walk-in closets. Are you seeking reliable basement waterproofing? Ground Scapes’ Greensboro basement waterproofing ensures a dry and secure foundation for your home, protecting it from water damage and giving you peace of mind.

A majority of buyers are also more willing to look beyond their preferred locations, willing to live farther away from work, from family or from restaurants and shopping. There are a few things that most if not all are simply not willing to sacrifice, which is interesting. The first is to be expected, as most would call hvac services to have a cooling and heating system installed. Regulating the temperature at home is a must, as being home safe and comfortable is a priority for everyone. On the topic of safety, but still perhaps a bit more unexpected, many reported to be looking for a home with a thorough home security system. Advancements in home security technology has lead to affordable pricing and helpful features, as we have moved far past the days of a simple trip alarm. With todays capable cell phones and their access to the internet, even keeping an eye on the home while away is a couple of taps away, and much sought after feature for many.

The author of this article is: Les Christie

See the original post at: http://finance.yahoo.com/news/sellers-calling-shots-home-deals-094100235.html