Buyers are still optimistic of being a homeowner

Half of the year has gone by and the real estate market is still pretty hot, especially here in the San Francisco Bay Area.  If you’re planning to sell your home now or in the future, there are buyers ready to purchase your home now and in the future.  A lot of buyers are very practical and will purchase a home in a good school district as oppose to having a other benefits the home may offer.

If you’re planning to sell your home, you want to make the home appeal to what the buyers are looking for in a home.  Don’t wait too long, there is a forecast that says home values are going to peak in 2016.

 

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What do the buyers say?

HAPPY HOLIDAYS EVERYBODY!!!  It’s that time of the year when real estate sales starts to slow down and everybody is shopping for gifts instead of homes.  However, there are still buyers out there looking to purchase a home before the year is over.  If you’re thinking of selling, find out what buyers want and don’t want.  This could help you get your home sold faster.  If you live in areas that have increased in value, you may want to cash in now.   If you’re having problems keeping your home, at least you will not be responsible for paying taxes on the loan you didn’t pay off.

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Buyers are optimistic about the market!

Thinking of selling in the near future?  If you are, buyers are out there with a positive attitude about home ownership.  Since the big recession, buyers believe it is still a good time to purchase their home before they get priced out.  So if you’re planning to sell, there are buyers out there ready to purchase your home.   Don’t wait too long or you’ll miss all of the excitement.

 

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What do buyers want in a property when they are purchasing their home?

Thinking about improving your home?  Why not do it now and enjoy the improvements until it comes time to sell your home?  I have noticed that a lot of  homeowners improve or do updates to their home when they are planning to sell. Yes, it will make the home more valuable but they didn’t get to enjoy the updates.  If you’re planning to sell in the near future, there are a few things that could make your home more valuable and try to enjoy it before you sell.

 

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Low inventory creates problems for buyers in the S.F. Bay Area

It is certainly a great time to purchase a property only if there is something to buy.  There are plenty of buyers looking to make the purchase but instead, they are experiencing disappointment after disappointment in trying to make offers for a home.   Some buyers have made offers over the asking price only to find out that there were 20 other offers for the same house.  Some all cash purchases, some with large down payments, and most of them are over the asking price as well.  This is due to the lack of properties available for sale.  The housing inventory is so low that it is creating a sellers market.  Where is all of the shadow inventory?  Until more properties come on the market, buyers need to be patient and hope that more properties come on the market.

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More forclosures are coming

Home sales have declined in some areas and its due to high demand, low interest rates and a shortage of homes to buy.  This creates a change in the market place.  Not good for buyers but good for sellers.

Buyers around the bay area are going to be happy to see more homes on the market.  Currently homes that are under $400,000 are experiencing a seller’s market.  Most sellers are receiving multiple offers for their home.  Every home that I have made offers for my clients have had more then 1 offer.  One house in Hayward had 18 to 20 offers.  Another house in San Bruno had 6 offers. My listing in So. San Francisco received 2 offers above the asking price, right after my open house, and 1 was all cash.   My other listing in Pacifica received 8 offers, all over the asking price.  It’s like that all over the Bay Area.  It’s pretty discouraging for buyers today.

Maybe there is some relief coming soon.  There is a shadow inventory due to be release around summer.  I hope this will help the buyers that are trying to get into their home.

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