Buyers who have not been following the changes in the Sacramento real estate market are finding they cannot get buyers to accept lowball offers. They are often not even getting enough interest to warrant a counter offer. We are telling our clients about lower inventory and to be prepared to move quickly with strong offers and a personal letter to the seller.
Sellers are no longer desperate, especially if they are selling in the under $300,000 range. It is almost like the early 2000’s when we listed a house and went to the fax machine to review offers. The difference today is the offers are being emailed. Homes which are priced right and show well have been in demand during the spring selling season. Although I anticipate it will slow down as the start of the school year nears, I don’t anticipate demand to decrease much.
Along with lowball offers not getting traction with sellers, buyer must understand the time to make a buy decision has been dramatically reduced.
At MagnumOne Realty, some of our most recent listings were in contract within days of hitting the market and there were multiple offers to choose from. Buyers need to be prepared to pull the trigger very quickly, which means the decision makers need to look at homes together, have a lender pre-qualification letter and not be afraid to make a fast ‘let’s go for it’ decision if they want to buy a home.
