Low Housing Inventory, Multiple Offers…When Do Buyers Have The Advantage?

During a short vacation to welcome my new baby girl into the world, I had some time to ponder some valuable blog topics. If you read the local Sacramento news, you hear a lot of stories about frustrated buyers, and their seemingly endless quest to find the right home in our Sacramento Housing Market. Most of the stories these days, center around Sacramento short sales, where banks have all the power, and buyers are left sitting on the edge of their seats, waiting and praying for a favorable approval of their offer. As evidenced by the media, the wait can be grueling, and can really test a buyer's commitment to purchasing a home. Many buyers I come upon, feel powerless in our current Sacramento market.

So, when can a buyer feel powerful again?

In a market like ours, sellers are starting to feel more confident that their home will not only sell, but attract a lot of attention, and sell fast. When that doesn't happen, sellers are left to wonder, "why not?" The confidence begins to fade, and is replaced by anxiety, and desperation. Enter the opportunistic buyer. In this situation, buyers may now have some power to negotiate terms, such as a lower price, repairs, credit for closing costs, etc. The longer a home stays on the market, the less strength the seller will have in negotiations.

Now, these listings are not growing on trees, and their does take an amount of research, and patience, to find them. Having a strong Sacramento Real Estate Agent to assist you, and correctly advise you, is critical! Good Luck!!

Happy New Year!

Kyle Groves