The chill is in the air, and it is time for sweater weather. As a girl from New Jersey, it is also time to go food shopping, aka grocery shopping if you are from California, and get ready for our family to come visit for Thanksgiving.
I am also watching out for the best deals for Black Friday and Cyber Monday. Another task I take on at this time of the year is reminding my clients not to miss amazing opportunities to purchase and/or sell a home. However, all the naysayers and negative nellies out there are saying, “But wait, interest rates are too high, prices are still high and are going to go lower, and sellers still won’t negotiate credits, repairs, or a reduced sales price.” While I remain respectful to the opinions of cynics, I will respectfully agree to disagree.
One of the most exciting opportunities this present market has afforded is for sellers to actually be contingent upon selling their home to purchase another home. Just 6 to 8 months ago sellers that wanted to sell their home and purchase their next home literally had to leave the state. This scenario of course was truly only an option for those sellers that were retiring.
Several of my clients chose to sell their home and their belongings upon retiring. After completing this task, they purchased an RV and created truly “a home on wheels.” All their life’s possessions were placed in their recreational vehicle.
Of course, this lifestyle is not for everyone. Presently, sellers can put an offer on another home prior to getting their present home in escrow. In previous months with multiple offers and lower interest rates, the contingent seller had to sell their home, put their proceed money in the bank, put their possessions in storage and move into temporary housing.
Sellers having to move twice is quite an undertaking. There also was no consideration to negotiate the sales price or repairs. In today’s market where the number of potential buyers is lower and days on the market are increasing the astute seller is open to discuss their options.
The inventory of homes is lower which means less competition to sellers. Buyers have more opportunity to negotiate. Come spring, only 4 months away, inventory will increase and hopefully interest rates will be lower. The cycle of more buyers coming into the market with a lower inventory will cause prices to increase due to supply and demand and homes could become even more unaffordable once again. It is time to jump off the hamster wheel.
Wishing you good health always and a Blessed and Happy Turkey Day.
• Donna A. Baker is the Broker-Owner of At Home Real Estate Group in Tracy, selling real estate for 21 years. Her memberships include National Association of Realtors, California Association of Realtors, Certified Residential Specialists, Central Valley Association of Realtors, Accredited Buyer’s Representative, Certified Distressed Property Expert®, and Short Sales and Foreclosure Resource.