first time home buyers
The NACA program all sounded too good to be true. And you know what that means. NACA is a HUD-approved company that makes loans to marginal buyers with bad credit or no credit. There are no income requirements, either. Not only that, but no down payment and no closing costs. Now, the NACA program bills itself as the answer to predatory lending for people who otherwise would get suckered into hard-money loans. Or discriminated against. At least that’s the way I read it.
You can see my ranking below in the hierarchy of preferable purchase offers. I rank NACA right below robbing a bank. But then, I’m a listing agent specialist. My team works with buyers. I do not. I represent sellers. So, of course, I see it differently.
Are you looking for a newer home in Hampton Station for sale in south Sacramento? This popular model is more than 2,000 square feet, and was built in 2014. Some of the homes in Hampton Station are near the light rail, but this one is not. No power lines. No train tracks. Close to Edward Kemble Preschool and Edward Kemble Elementary, with Cesar Chavez Intermediate right behind those schools. Many buyers move to Hampton Station because they want a newer home and they like the schools.
A feature you are sure to love are the cherry hardwood floors throughout most of the first level. They are simply beautiful. The flooring matches the cherry wood cabinets in the kitchen. This particular layout offers so much privacy. Much of the home in Hampton Station is sheltered toward the back from any traffic in the street, which makes it very quiet.
The way I see it, the problem with Sacramento home buyers who offer less than list price is it’s often a case of the blind leading the blind. I’m sorry, there is just no other way to say it. You’ve got buyers who have probably never bought a home in their lives trying to figure out how much to pay. And you’ve got a buyer’s agent who probably doesn’t sell very many homes. The agent most likely has had little, if any, training about appraising a home.
Often, these are buyers who offer less than list price because they saw an HGTV show. In those mythical fairy tales, buyers are always offering less than the amount the seller asks. Talk about overly generalized. We have a Sacramento sellers market, which means sellers can hold out for and will get list price. Very few homes for sale, high demand, hello?
It wasn’t that long ago, maybe 10 years back, an agent in my office asked why I would work with internet buyers in Sacramento real estate. This was an astounding concept in 2008. That a Sacramento Realtor could be found online by an internet buyer. Most of that search was organic because other agents were not online. They didn’t have websites nor blogs. Today, everybody has a Facebook, Instagram and Twitter account.
Fast forward 10 years later, and I still maintain a higher internet presence. The difference is many buyers today come from the long tail I’ve created online or from websites where buyers go. I stand out in the sea of ordinariness. That’s why internet buyers gravitate toward me. They see value. According to NAR, 66% of first-time home buyers are Millennials. Followed by Generation X at 26%. Buyers value experience.
For some reason, it has been drummed into the heads of Sacramento home buyers that it should not be OK to pay list price for a home. Which is the silliest thing I’ve ever heard, and yet I hear it a lot. I heard it back in the 1970s when I started selling real estate. My mentor at that time taught me that owning real estate is the most important thing. Even if I pay list price, it’s OK. There is nothing wrong with paying what a home is worth. Yet, we always want to get a deal . . . when the truth is there are no deals if you don’t buy the home.