Check out my real estate column this week, “Making Your Offer Standout,” over at Rocklin & Roseville Today. Making successful offers in a seller’s market is an art and I have shared a few tips for buyers. I have been writing the weekly real estate column for 6-years. There may be a few weeks I missed but I suspect I have written over 300 articles for Rocklin & Roseville Today and Sacramento Today. Maybe I should compile them into a book which could be a history of where our real estate market has been over the past six years?
If anything is constant in real estate it is change and the Sacramento area housing market is full of shifting patterns. Where short sales made up a majority of the marketplace they have suddenly become much less desirable for homeowners and their lenders. Check out my weekly local real estate column, “Short Sales Less Desirable,” over at Rocklin & Roseville Today.
Buyers are willing to pay more for a home due to concerns about low inventory. I the second quarter of this year, 41 percent of buyers said they would offer more than the asking price. This is up from 34 percent in the first quarter, according to a recent survey by a large brokerage. The number of buyers who say they’re concerned about rising home prices has more than doubled in the past year, according to the survey. Seventy-nine percent of home buyers say they believe prices will increase in the next 12 months—with 23 percent of that group saying by “a lot.”
It is clear most buyers here in the Sacramento area understand we are in a seller’s market and if they want a house they have to be willing to make attractive offers. This is especially true in the under $300,000 price range.
Wind and allergies have been one of the most talked about subjects this spring. There have been more windy days this spring than I can remember and as a result many of us have been suffering with allergies. Hopefully this will end soon. For real estate agents, almost as bad as allergy attacks is waiting for appraisals to be completed. More sales have collapsed this spring as a result of low appraisals.
If you want to learn more about how appraisals are impacting the Sacramento housing market, check out my column, “Waiting for the Appraisal,” over at Rocklin & Roseville Today.
When you look at number of days on the market, Sacramento with a median of 12 days is one of the fastest in the country. What does this all mean, check out my weekly local real estate column, “Sacramento in Top 5 Fastest Moving Housing Markets,” over at Rocklin & Roseville Today.
We continue to see buyers facing stiff competition to have offers accepted in current seller’s market here in the Sacramento area. Desirable listings are being snapped up quickly and often have multiple over asking price offers. One of the issues we are facing is appraisers having difficulty keeping up with the sudden price increases as there are often no other similar homes which have sold for as much. As a result some buyers are unable to get enough financing if the valuation is less than the contract price. Seller’s and their agents know this, and some are insisting buyers waive their appraisal contingency. If you want to learn more about this and my concerns, check out my weekly local real estate column, “Buying and Waiving,” over at Rocklin & Roseville Today.
Our new listing in Sacramento is already in contract. We had multiple over asking price offers within hours of going live on MLS. Michael spends a fair amount of time with photos, websites and even posting the listing on Craigslist to get exposure. One cell phone photo was probably all that was needed.
This is a good example of what is going on in our local Sacramento housing market. The demand is much higher than the supply. For more details, check out my local real estate column, “Homeowners believe now is a good time to sell, but….,” over at Rocklin & Roseville Today.
I need another house to sell, do you have one?
8102 Silverleaf Way, Sacramento, CA (95829): Located in a nice South Sacramento neighborhood this is a 3 bedroom, 2 bath home with 1,432 square feet of living space. The home features a fully equipped kitchen with eating area, large living/dining room with gas fireplace and sliding doors to the patio and backyard. Links: More Photos - Virtual Tour - More Information
Offered at $190,000 (Short Sale)
I will never adjust to the extreme ends of the Sacramento housing market. Today, with less than one month’s inventory of listings on the market seller’s and their agents feel like they can ask for anything they want, demand buyers follow rules and not have to communicate with buyers and their agents. For my rant, check out my weekly local real estate column, “Housing Market Ugliness,” over at Rocklin & Roseville Today.