first time home buyers
Lately, when home buyers need to sign loan documents, this action has become an all too familiar problem. When buyers write an offer to purchase a home, shouldn’t somebody explain that they need to be available to sign loan documents? How about asking a simple question such as are you leaving town in the next 30 days? How about a friendly reminder such as you need to make yourself available to sign your loan documents and disclosures during our 30-day escrow.
We had an escrow ready to close, and I was informed by the buyer’s agent, on the day of signing (no less), that the buyer had to leave the state for a work conference and would have to sign the following week. This is nuts.
To be a successful Sacramento home buyer’s Realtor is a very important job. Because many agents sell homes, it does not mean they are excellent at their job. Selling homes takes two agents: a listing agent and a buyer’s agent. Often the stronger agent will get the job done for both sides. How can a seller’s agent help a buyer’s agent? Great question.
As a listing agent, we make sure the time frames and contracts are completed, along with all the disclosures and reports. We can explain in detail how and why we are taking action. We make sure we have a 100% complete file and stellar record of all communications. Even if the buyer’s agent doesn’t know what she or he is doing, we will get the transaction completed, regardless. They can’t miss an important milestone, as we won’t let them.
List a house to buy a replacement property is common question sellers ask. In a seller’s market, buyers will buy a home and wait for a seller to find a replacement property. Now the trick is to find a home where the seller will take a contingency offer, meaning wait until the buyer’s home is in escrow.
There are factors that help in a contingent offer such as the buyers having a large degree of equity that translates to a large down payment like 20%. If the buyer has strong qualifications and motivation to buy replacement property, things are looking up. The time of year also can help. During holidays, the market can slow a bit. If the seller is moving up from an entry-level home, that is good news. Entry-level homes are in high demand, no matter what type of market.
Exclusive Buyer’s agents and Pismo Beach, what do they have in common? Well for starters in this photo is our fabulous exclusive buyer’s agent, Josh Amolsch. Josh works with our buyers full time. He is always hunting for just the perfect home for our buyers, 7 days a week. Not only is he out in the field hunting up new business, additionally he calls his contacts and keeps in touch with his sphere of influence. He is committed to maintaining close relationships with his happy clients and providing ongoing quality support and service, long after the escrow closes.
In doing research about whether Millennial home buyers will buy more homes than Baby Boomers, I found an interesting article posted by Forbes. These numbers in the referenced paragraph below were a surprise to me, no doubt. I’m a believer in adapt to your circumstances and evolve with the times.
“Millennials will continue to make up the largest segment of buyers next year, accounting for 45% of mortgages, compared to 17% of Boomers and 37% of Gen Xers. While first-time buyers will struggle next year, older Millennial ‘move-up buyers’ will have more options in the mid-to upper-tier price point and will make up the majority of Millennials who close in 2019.