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Recently, a Sacramento home buyer told me that he felt there were plenty of Sacramento homes for sale and it is a buyer’s market.
This Sacramento first time home buyer was not interested in offering more than the asking price for the Sacramento home he saw.
In some ways, this Sacramento home buyer is correct and incorrect. Yes, there are plenty of homes for sale in Sacramento however, fewer home are for sale that would qualify for his loan. If a Sacramento home for sale looks good chances are all Sacramento home buyers will want to make offers on that house versus a house that is in poor condition.
As a Sacramento home buyer if you are asking for the seller to pay your closing costs which amounts to thousands of dollars, you may need to sweeten the pie and offer more for that Sacramento home for sale.
This first time Sacramento home buyer found out the house he was interested in, received multiple offers with one of those offers being all cash. Although it is a buyer’s market, it seems to me that it is more of a bank’s market.
Short Sale banks are not willing to accept just any offer, the banks are looking for market value. The one exception to that is if the house is a mess and torn up, that’s a different story, the banks will accept less.
Unfortunately, we have some out of town agents listing Sacramento short sales who are not listing them at value as well as agents who enjoy listing low hoping for multiple offers that could in fact backfire.
Word to the wise…Sacramento first time home buyers, ask your Sacramento Realtor® for a CMA, comparative market analysis of the home you want to buy and write your offer appropriately based on the comps. Otherwise, your offer won’t be accepted by the Short Sale bank. As a Sacramento short sale agent I can tell you with all certainity that the banks will not accept low offers, they want market value.
And for heaven sakes, don’t delay making your offer…the good ones are taken pretty fast…just like my first time home buyer found out!
As a Sacramento Realtor®, my job is to guide you with the appropriate information so that you as a home buyer can make an informed decision on your offer but ultimately, it is the home buyer who decides on what to offer.
Other 1st Time Home Buyer Articles:
Big Tip for New First Time Homebuyers
Good News for Sacramento Home Buyers
How Much Money Do Home Buyers Need to Buy A House?
