NEW YORK ( TheStreet) -- U.S. homebuyers are getting creative and aggressive in the search for the perfect house.
In fact, the real estate market has become so competitive that about two-thirds of all U.S. homebuyers say they would use "aggressive" tactics to buy a home, including paying all the seller's closing costs and placing a bid well above the asking price for a home, according to Trulia.com's (TRLA - Get Report) latest homebuyer survey.
"The recent increase in mortgage rates hasn't slowed demand as long as home affordability remains high," said Bob Walters, chief economist at Quicken Loans . "We are, however, seeing an increased urgency from potential new homebuyers as they move to secure today's historically low rates."Realtor.com. Trulia adds that home prices in so-called "hot markets" such as Oakland, Calif., and Las Vegas have risen by over 15%. Some additional numbers from Trulia:
- 38% of buyers in the nation's "hottest" markets worry they won't find a home for sale they like.
- 33% of buyers in those "hot" markets worry they will have to compete with other buyers over their dream home.
- 30% of homebuyers worry they won't qualify for a mortgage.
- U.S. households with annual incomes of more than $100,000 annually are more likely to bid higher than a home seller's asking price and more likely to offer to pay the seller's closing costs to clinch a deal.
- U.S. households with less than $50,000 in annual income are more likely to borrow from family or friends to make a 20% deposit on a new home.
- Younger homebuyers are especially aggressive about locking down a home deal.
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