Over the past month we have been struggling to buy a home for one of our clients in Elk Grove. He is a first time buyer but financially strong and not a picky buyer. Almost every time we have gone out looking at homes he finds one he likes and we write an offer. Our offers have been reasonable, generally offering below the asking price but nowhere near “low ball.” There is no shortage of homes on the market in Elk Grove and buyers should expect to have some negotiating strength.
To make a very long story short we have been unsuccessful. We have had three offers countered not only at the asking price but asking for our buyer to cover costs traditionally paid for by the seller. In one case we were unable to come to terms because the seller wanted a long escrow and then an 60-day rent back. We tried to verbally negotiate with one agent but that failed because she could not communicate with her client without something written. Our last offer, on a great small home which showed like new, looked solid until the agent disappeared for 4 days and found a cash buyer.
It is hard to believe the Elk Grove remains a seller’s market while the rest of the Sacramento area is more favorable to buyers. It must be the water there!
By the way, check out my weekly column, “California Housing Market; 2015Forcast,” over at Rocklin & Roseville Today or Sacramento Today.