Wow…That is all I can really say about the current happenings in the 680 Corridor Real Estate Market. From Dublin to San Ramon, Danville to Blackhawk and Alamo to Walnut Creek 2013 Real Estate has started off sizzling…Just this week two homes I know of with 16 offers, a condo with 30 and numerous other properties with multiple offers are causing excitement for home sellers and frustration for home buyers.
From a seller’s perspective this is welcome news but with it comes a bit of confusion. Marketing times on select properties range from a few days to a week or so. When it comes time to review those offers the highest price is not always the best. Contract terms are important. What type of financing is being proposed (and what bank issued the pre-approval letter)? What inspections are being called for? Is there an appraisal contingency? These are just a few pieces which have a dramatic effect on the quality of the bid to purchase your home.
From a buyer’s perspective one must be prepared. The Bay Area Real Estate Market began to turn toward the end of the first quarter of 2012 with the number of buyers outpacing the available inventory of homes for sale. I dealt with numerous transactions last year for listings and sales and they all had one thing in common…MULTIPLE OFFERS. When you are ready to look for homes you must be able to act quickly. Your financing must be ironclad and the number one item is to not get your hopes up. Understand the terms of what makes an offer attractive from the outset and, most of all, keep a cool head in the midst of CRAZY…
If you are thinking of selling, now is an excellent time…no need to wait for Spring.
If you are thinking of buying, now is also an excellent time but patience is a virtue
DON’T LOSE YOUR HEAD IN THIS CRAZY MARKET!!!
Just give me a call!
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