California’s housing market appears
to be heading in the direction of a Seller’s market. With inventory in certain
price ranges at an all-time low, Sellers are seeing multiple-offers once again.
Listings in the price range of $600,000 and below seem to sell quickly. The
chance of these properties going into escrow within 30 days is highly likely so
one has to be prepared.
The level of difficulty to get an
offer accepted on a home purchase has increased. To this point, we’d like to
make some suggestions on how you can increase the chances of getting your offer
accepted. As a reminder, if you like a house enough to make an offer, assume
there are 15 other people who feel the same. Some of which will be presenting
all cash offers. This doesn’t mean that you are automatically going to be
rejected but it does mean your offer will need to stand out. In the many years
I have been involved with real estate and finance, here are some ways I have
found Buyers to be successful in a bidding war:
1. Find a Buyer’s agent that knows the area very well. Chances are the agent will most likely know the Listing agent.
2. Personalize your offer by creating a profile on yourself and your family. This lets the Seller know what they would be selling to and that you actually went the extra mile to let them know you are truly interested in the property.
3. Be prepared to spend days, nights and weekends to find your property. Properly priced new listings won’t last too long so the sooner you see it, the sooner your offer gets seen.
4. Prepare a game plan between yourself and your spouse to view homes and write offers. Chances are your schedules won’t be exact so it’s important to detail what you like, how you will tour homes, and how you will present offers.
5. Get loan approval for your home price range.
1. Find a Buyer’s agent that knows the area very well. Chances are the agent will most likely know the Listing agent.
2. Personalize your offer by creating a profile on yourself and your family. This lets the Seller know what they would be selling to and that you actually went the extra mile to let them know you are truly interested in the property.
3. Be prepared to spend days, nights and weekends to find your property. Properly priced new listings won’t last too long so the sooner you see it, the sooner your offer gets seen.
4. Prepare a game plan between yourself and your spouse to view homes and write offers. Chances are your schedules won’t be exact so it’s important to detail what you like, how you will tour homes, and how you will present offers.
5. Get loan approval for your home price range.
For a list of lenders and real estate agents, please contact us at marketing@mypropertychannel.com
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