Betsy and Bill West have been a longtime real estate team in this corner of Pennsylvania. Over the past 15 months, the pandemic has impacted their livelihood in a spectrum of ways, feasting on them initially, then creating a feast of opportunities for the Cecil Township couple and their brethren of agents and Realtors.
Residential real estate has become a smoldering industry nationwide, one that essentially has been a sellers market and a buyers market for months – and perhaps a year in the Pittsburgh region, according to some analysts.
The primary reasons are simple: Although interest rates have risen since hitting historic lows last summer, they are still below 3%. Rates, plus the infusion of federal stimulus money, have made this a fortuitous time for sellers and, to a lesser extent, would-be home buyers.
Demand, in many areas of the country, outstrips the supply of homes, prompting potential purchasers to compete against one another for a particular residence. A number of them may offer thousands of dollars above the list price, but only one will prevail. Sellers, meanwhile, are beaming like never before. Yet, in many instances, it is a win for both sides.
This is why the Wests, agents for Berkshire Hathaway Home Services in Washington, have adopted a couple of house rules.
“We tell anyone who has a home to sell, and somewhere to go, that they will…