Sacramento Real Estate
My seller called today to ask just how does a top listing agent like me market homes for sale in Sacramento? She did not ask this question before listing her home for sale or maybe I answered it during our discussions. I often try to anticipate what a seller will want to know before she asks the question. Thinking ahead is one of my specialties, you know. This seller wanted to know what happens when her listing goes live in MLS, where does it go and how does it get there. And specifically, what do I do to market homes for sale in Sacramento?
Because I’m in full blown spring mode dealing with Sacramento home selling myths at the moment, I’ve noticed that I get asked somewhat the same questions from many sellers. At first I wondered where are they getting these ideas? But then I decided there isn’t any one place, and much of it is arrived at within their own minds. It makes sense to them. Even if it doesn’t make a lot of sense to me, those beliefs, so I try to be even more patient and understanding.
One of the most common Sacramento home selling myths I hear repeated: seeing as how we have to pay commissions and closing costs, can we raise the price? The reason we listing agents get that question? Because sellers temporarily forget how we determined the sales price. And they honestly did not think about paying costs of sale. Raising the price seems entirely rational and normal to ask. When you think about it this way, you can see how a seller could come to that conclusion.
One of the hardest decisions for a home buyer is how much to offer to buy a home in Sacramento. Buyers see the list price but it doesn’t mean much to them. Not being in the real estate business, many buyers look to their agents for advice while others soak up bad information on cable TV. All real estate is local. That means only one thing: The only advice that matters is that which pertains to the Sacramento real estate market. Not Los Angeles or Miami or Chicago.
A seller’s market persists in Sacramento. See my Sacramento Housing Market Report for February 2018. We’ve been in the midst of a seller’s market for a long time now. We have very few homes for sale. High demand. Remember your high school classes about the laws of supply and demand? When supply is low, demand goes up. When supply is high, demand goes down. Supply = house for sale. Demand = qualified, ready, willing and able home buyers.
Technically, when you get right down to it, the question about how does an AS IS sale work in Sacramento makes little sense because every sale is AS IS. But buyers don’t really understand that concept and many of their agents fail to grasp the verbiage, too. For example, many agents do not spend time perusing our purchase contracts. However, they should because our California Residential Purchase Agreement, paragraph 11, states the following:
11. CONDITION OF PROPERTY: Unless otherwise agreed in writing: (i) the Property is sold (a) “AS-IS” in its PRESENT physical condition as of the date of Acceptance and (b) subject to Buyer’s Investigation rights; (ii) the Property, including pool, spa, landscaping and grounds, is to be maintained in substantially the same condition as on the date of Acceptance; and (iii) all debris and personal property not included in the sale shall be removed by Close Of Escrow.
When the seller asked did I just sell a home in Hampton Station, I had to stop to think about his question. I did just sell a home in Hamptons Village in Natomas on Tides Edge, but he meant a different subdivision. Mostly homes built by Woodside in Hampton Station in south Sacramento off Florin. When you sell as many homes every year as I do, it’s sometimes a challenge to keep them all straight. This was a subdivision I did not even realize existed until I sold a home at 7511 Georgica Way in Hampton Station.