With current inventory levels of Knoxville Homes For Sale, as well as nationwide levels well below normal, home buyers are finding themselves in situations where they may have to compromise. Gone are the days where buyers had their pick of the litter and could find multiple homes in their price range that had everything on their wishlist. A recent study by the National Association of REALTORS clearly shows on what criteria home buyers are more willing to budge.
The study was broken down by home buyer type. For example: single, married, male, female, unmarried couples, children under 18 in the home, and no children in the home. The number one compromise across all groups was price. More people were willing to go up in price and secure other elements they refused to give up. The 2nd and 3rd largest compromises were very close across all groups and consisted of a compromise in the size of the home, followed by the condition of the home. The criteria that home buyers were least willing to compromise on, across all groups, were distance from schools and quality of schools. Quality of the neighborhood also ranked low on the compromise list.
Troy Stavros, Broker and Partner with the 865 Real Estate team at Gables & Gates, REALTORS says, “When buying Knoxville Real Estate, one of the keys in having to compromise less, is working with a Knoxville real estate agent that keeps close tabs on the market and watches as new homes matching your criteria come available. In a market with low inventory and high buyer competition, good homes sell very fast. Oftentimes the first offer in wins.”
