Home Buying and Selling in Sacramento
Some of the conversations I’ve been having lately with buyer’s agents in Sacramento seem as bizarre as the actual weirdness of quantum entanglement. For those of you who haven’t spent much time pondering quantum entanglement, this is an instant thing that happens in the universe. No, I’m not talking about the life-on-a-blade-of-grass theory, derived from dropping acid in the ’60s; this is not that foo-foo stuff. This is science. It’s a real phenomenon.
It’s what happens when two particles mirror each other after an interaction. You’ve got this one particle, which could be a Sacramento buyer’s agent, and another particle, which could be, say, a San Diego buyer’s agent. These two agents meet and become entangled to the extent that if the Sacramento buyer’s agent skins her knee, the agent in San Diego feels the burn. You think this sounds like craziness, a movie plot, but it’s real.
If I’m gonna take an overpriced listing, I have to really like the seller. Because I know that I will be in a long-term relationship with that seller as we work toward price reductions, pulling the home off the market, putting it back as a new listing, and fielding unending agent comments about the crazy price after showings that go nowhere. Yet, little messes up that relationship more quickly than when a seller demands I discount my fee for no good reason.
Sellers like this are basically saying, hey, we want you to work like a dog trying to get a price for our home that is impossible to obtain, and we don’t want to pay your going rate. That’s three strikes, the third being brain damage. Rottsaruck there, buddy. You deserve to work with a discount agent, yes, sirree. Go hire a discount agent who will shoot pictures with a cellphone and throw you under the bus after the buyer’s home inspection. See how happy that makes you.
Unless the buyer’s agent changes the terms in a purchase contract, or we negotiate different dates, many Sacramento listing agents expect buyers to conform to the contract. Well, we don’t actually expect the buyer to know this because it’s up to the buyer’s agent to explain timeframes and duties to the buyer. So often, though, it’s click, click, click in DocuSign, what I can’t call press hard, third copy is yours anymore, but same principle. Some agents do not explain this stuff to the buyer until it’s too late, and then emotions escalate.
Given our strong seller’s market in Sacramento, many home buyers today are finding themselves closing escrow but not being able to move into their new homes due to the free seller rent backs. Part of the reason for the free seller rent backs is to induce the seller to accept an offer over another offer without the holdover possession. It’s also because many sellers are not moving up. At least not in my listing inventories.
Sellers are either a) a successor trustee or trustee of a trust; b) moving out of the area; c) selling an investment rental or d) buying a brand new home. They are not coming to me and asking to sell their home so they can buy a bigger, nicer home in a different neighborhood, which would be a normal Sacramento real estate market. But these are not normal times. We need to remind ourselves that much of what is happening today is NOT NORMAL. We can’t get complacent.
All of my new listings are following a pattern in Sacramento real estate. It seems that I list 2 or 3 homes a week, put them on the market on Friday and by the following week we are pending, generally with multiple offers. It’s been this way all year. Can’t keep anything in inventory anymore, but then I do so much of my work upfront that buyers can’t help but want to buy my new listings. Everything is turnkey and ready to go.
This week’s new listings are in West Sacramento and Del Paso Manor, two completely different types of neighborhoods and homes, except for the fact each is remodeled. The home in West Sacramento was built in 2002, features 4 bedrooms and 2 baths, and a breathtakingly beautiful back yard. I kid you not. The sellers have spent a fortune on landscaping. It features a raised deck and spa, plus a pond and waterfall.