Newspapers say Sacramento will be one of the top 10 "hottest" real estate markets in 2017!
......which brings me to how "challenging" this market currently is and will continue to be if these prognostications are correct. If you're a buyer in the say, "under" $400,000 range you can attest to how difficult it is to be successful at purchasing a home these days. It seems every property in this price range either has multiple offers, all cash offers, or it sells in the very first day on the market! From the Realtors standpoint, it's a lot of time and effort. From the buyer's standpoint, it's nothing short of frustrating, to say the least. You begin to wonder whether you'll ever get a property! To further complicate things, if you've got to sell your current home in order to buy the new home, you're put at even more of a disadvantage......because sellers know they don't have to accept a contingency unless they're desperate or their home has been on the market a long time (perhaps because it's over priced?), in which case they may be thrilled to get a contingent offer. But for the most part, if your home isn't yet on the market and in escrow, your chances are very slim. However, IF your home has an accepted offer and is in escrow, your chances improve....especially if the buyer of your house has competed inspections and removed those contingencies. AND, hopefully you were wise enough to counter that you reserved the right to rent-back for 30 days if you need to. That gives you a little bit of breathing room in order to find your replacement property.
If homes are priced right and show well, they're going into escrow lickity-split! Inventory is still low and sellers are getting "probably" more than they would in a "normal" market because of this lack of inventory. In the coming springtime though, I suspect our inventory is going to pick up and there will be more listings to choose from. Hopefully.
IF you are a buyer, get your ducks in a row and get your pre approval from your lender. If you have to sell your home, get it spruced up and ready to show. Do everything you possibly can to make yourself a prime buyer or seller. Talk to your Realtor. He or she will have excellent tips to get you ready.
Our market is so hot and so busy right now, I just can't imagine how much more stressful it's going to be. But be prepared and be ready! Call your favorite Realtor to help you or call me anytime! I'd love to help you however I can!
Patti Martinez pmartinez@golyon.com (916)768-3157 cell or text......PATTIMARTINEZ.NET website.
