Monday, May 9, 2016

from the buyers prosective

Here we are May 9th 2016.  The real estate market is continuing to rally.  We're seeing a shortage of inventory in almost all areas, from Natomas to Auburn.  If you want a single story with a pool your search just got harder.
I have a VA buyer that has been trying for 6 months to get into contract unsuccessfully.   It's not for the lack of offers or price, it's just been touch to make a VA offer as attractive as an over asking all cash close in 8 days offer as we just lost out to.
Timing is everything!  I've been able to get some folks into contract in Roseville and Rocklin simply by being strong in off the gate.  Some sellers don't want to deal with open houses and people going thru their house.  Day 1 on the market full price, and wrap it up.  Other sellers will play the game, they're "out of town" and wait for multiple offers to work with.  It's important not to get wrapped up in the craziness as a buyer and go with what you're comfortable paying.
If you have time to shop for a home then it will give you an advantage.  As this is a sellers market, you want to try and play to your strengths.  If you really like a property and there's other offers, then you're looking at a bidding war, over asking or more...
There are other ways to make an offer to buy a house strong, other than just price.  If you shorten your inspection period, or increase the deposit, or quick close can all be factors to help in locking down a property.  We're beginning to see some buyers go as aggressive as paying the difference of the purchase price and appraisal if it comes in low.  There's also closing costs that a buyer can take on to help the sellers bottom line.  The best thing you can do as a buyer is to find an agent who's been in the business for a while and has a good reputation.  Often times I've worked with these listing agents before and I'm able to get useful info in order to get you the deal.  I just has one where my buyers loved a property and we missed it.  The listing agent is a buddy of mine and he let me know that it was falling out of escrow, I slid my buyer right in there without fighting any other buyers.
Having a strong reliable lender is also key.  I have several local lenders here in Roseville, CA that I can recommend you talk to.
If you want to get started, give me a call to discuss!

Chad Phillips
Re/Max Gold