It’s a Buyers’ Market! So what is holding you back?

You have said that “real estate prices are too high”. So, are you still waiting for prices to go down?

You have said that there are not enough houses to look at…supply is too narrow…thus artificially pushing prices up.

You have said that you wish you had bought several years ago when prices were lower.

You have said you don’t like having to make a huge decision about buying a house in a short time because houses were selling in days.

You have said that you do not like multiple-offer situations or bidding wars as they are sometimes called.

You have said that you don’t like having to wait in line overnight to be able to buy a new house directly from the builder.

You have said that you have not been lucky enough to buy a new house through the builder’s lottery.

Well…what are you waiting for???

Prices are down in most markets…down quite a bit in some markets. List prices are negotiable!

Inventories are up…there are lots of houses to look at and from which to choose. If you can’t arrive at a satisfactory agreement on a property, it is more likely now than in the past that you can move your attention to a substitute property. Of coures, this market condition gives you negotiating leverage.

Take your time and find the right house. Reduce your stress level. Buying a house is a big deal and that can cause stress. But remember that the best houses will get the most attention and may disappear from the market quickly. Be ready to make your move when you find the house you like.

No waiting in line. No lotteries. New home builders are aggressively marketing their homes with sharply lower prices and lots of incentives. Some builders are even offering price protection plans. They are rolling out the red carpet.

Multiple offers are rare. But be aware…as I have already said…the best properties (a combination of price, condition and location) will get the most attention. If more than one buyer wants the property, what do you expect will happen? That is how a multiple offer situation occurs. If you have found the right house, buy it! Don’t wait for someone else to buy it our from under you or force you to bid for it.

Which brings me to this: if you buy and hold your house for a few years (either live in it or rent it out), it is very likely that you will experience appreciation in the value of the house. It is highly likely that your real estate will go up in value if you pay attention to the basics of price, location and condition when you make the purchase. No guarantees, of course, but look at the history of real estate in the United States and, in particular, in this area. During that time, you will experience the joy of owning your own home plus the financial benefits of homeownership. In a few years, it is likely that you will be saying, “I am sure glad that I bought when I did”.

So…for the third time…what are you waiting for?

If you are looking for a home in Fremont, Newark, Pleasanton, Livermore, Union City, Hayward, Danville, San Ramon or Milpitas…this would be a good time to call me (or your favorite REALTOR) and make your move. If you are a first-time buyer, investor, move-up buyer, or any other type of buyer do not let this opportunity get away. I don’t know how long it will last. You don’t know how long it will last. No one knows how long it will last. Opportunity is knocking! What are you waiting for?