sacramento buyer’s agent
On Easter Sunday, I was thinking how buyers searching for a home is like an Easter egg hunt. Home buyers today are having a tough time finding a house due to limited inventory. Kids also struggle trying to find Easter eggs. My family hides eggs so well that they must expend serious effort to find them. This photo is of my great niece and nephew, Alexa and Jordan. You can see in the bird cage hanging in the tree there are a few easter eggs hidden inside. They are getting ready to hunt!
Buyers are often looking for homes on Zillow or driving around looking at for sale signs. There are many ways to look for homes for sale, such as the MLS. Experienced Realtors may have a few off-market properties that with careful searching they can uncover. This is why I say buyers searching for a home is like an easter egg hunt. The homes are sometimes hidden out there so you just have to look much deeper than just Zillow or Craig’s list.
Wondering about Sacramento full-service Realtors vs self-help real estate? Listen to this, I had been running hard all week and decided to quickly dash into the Ulta Store near one of my favorite pocket of homes in Elk Grove to buy makeup. Dashed in, grabbed my mesh bag, and headed for the face makeup.
Too many choices at the Clinique counter. There are so many types: sheer coverage, full coverage, matt, bronzers, different skin types, Yikes! So, of course, I take samples and brush them onto my hands like a real pro, NOT! My hands are now covered with 5 different kinds colors of face makeup. I wipe it all off. As I was about to start on the other hand with samples, I decided ok, this is crazy. I don’t have time for this, why did I even come into this store?
The changing world of Sacramento real estate for buyers tends to baffle many buyers. That’s because many buyers do not understand the real estate business. They think they do but they do not know how agents operate. On top of that, many agents work differently. Some might work on a salary under supervision. Others are like the Wild, Wild West, and might not even be a Realtor nor subscribe to the Code of Ethics. We enjoy basic real estate practices, but not every agent is trained, either. Further, some buyers think they can work with every buyer’s agent out there, and others don’t want to work with any buyer’s agent because they think the listing agent will represent them, nope, wrong. Many listing agents refuse dual agency.
My phone was fairly active yesterday fielding calls from buyers. Because of the changing world of Sacramento Real Estate for buyers, I make sure we are all on the same page. When a buyer calls and asks us to show them the home, I make it very clear that they cannot hire another agent. If they plan to hire an agent to write the offer, then they need to ask that agent to show them the home. If that agent can’t do it, they need to ask that agent to find them an associate to show the listing.
I sometimes get the guys who ask me if the seller will, say, take an offer with a 30% discount. I just stare at my phone. As though I can’t believe those words are coming from the other side of our connection. I repeat the list price. Over and over until they stop asking me to guess what the seller will take. Because I don’t know and, if I did, I wouldn’t say anyway. Just stop asking that question, please. Especially when the home has been listed less than one day, for crying out loud.
Long gone are the days in the changing world of Sacramento real estate for buyers that a listing agent shows the home. In fact, in most instances, the listing agent is not the open house agent. The open house host is typically a buyer’s agent, ready, willing and able to represent the buyer and write an offer. Buyer’s agents hold open houses to find buyers in the following manner: 1) to buy that property or 2) to buy another property. Our first choice is that the buyer purchase the home that is open, of course.
Buyer’s agents work with buyers. Listing agents work with sellers. Every so often you will find an agent who swings both ways and tries to wear two hats, but more and more agents are specializing. In 10 years or so from now, I doubt you’ll find many agents left in the business who represent both parties. The main reason to work with both buyers and sellers is because agents don’t have enough of either type to work with. They need to make more money, so they try working both sides of the street. But when an agent specializes, that agent tends to become highly efficient and successful.
I tell buyers straight up if one of our agents shows them the home, that particular agent will represent them. That means the showing agent will be the buyer’s own agent. If they don’t want that kind of relationship — and it is an option — then they need to find an agent. Because agents don’t show property without compensation. Agents show homes because they plan to represent the buyer. Since some of us work strictly with sellers, buyers need to find an agent. It can be an agent from the Elizabeth Weintraub Team or it can be an agent at another company. But find their own agent they must.
One thing to get straight right up front about what home buyers can now expect in Sacramento real estate is the market is not crashing. Our market is definitely not a bubble waiting to burst. Too many owners have too much equity and a higher number of sales have no loan at all. The scary no-doc loans given to any person with a pulse is absolutely not happening. However, what home buyers can now expect in our housing market is softer pricing. There are no smart sellers hoping for “my way or the highway” anymore.
Instead, smart sellers are viewing the competition with an eagle-eye lens. They are making their homes better priced and more attractive than the competition in hopes their home will sell faster. Oh, there are a few sellers still looking for that needle in the haystack, that unicorn buyer, but I definitely see that sort of attitude quickly changing.
What home buyers can now expect in Sacramento real estate is more negotiation. Prices are no longer firm. Many sellers are willing to help pay closing costs, too. There are not as many multiple offers for median priced homes, so buyers aren’t always getting beat out by cash buyers.
Another nice benefit for buyers is sellers are putting more work into getting their homes ready for market. Except for the flipper homes, for the most part, buyers can expect new paint, maybe new flooring and newer appliances. If a home isn’t up to their standards, they have 5 more that fit their dream list. And really, how many homes does a buyer need to buy, but one?
Typically, moving into Thanksgiving, our real estate market in Sacramento slows down for the winter. We are not likely to see a change in activity until probably March. This means home buyers have an excellent window of opportunity to find the home of their dreams, that perfect home in Sacramento. Interest rates are predicted to land in the 5.5 region next year, but for right now, they are hovering around 5%. Everything points to the best time to buy a home in Sacramento is over the next few months.
You can call the Elizabeth Weintraub Team at 916.233.6759. We’d love to help you find a home.
Today I am honored to bring you some extraordinary wisdom about how to find the perfect home in Sacramento, written by our exclusive buyer’s agent, Josh Amolsch. This is from an agent who shows on average 40 to 50 homes a week in Sacramento. He is not some retired agent who works only on referrals or an agent who sells a measly 1 or 2 homes a year. Josh is an agent down in the trenches who works every day, 12 to 14 hours a day.
How to Find the Perfect Home in Sacramento
by Josh Amolsch
The traditional and overused Sacramento Realtor marketing gambit is that they will “help you find your perfect home”. Well, I am here to explain why perfect homes are a fairy tale. A perfect home does not exist. But the good news is you can come close. The truth is even if I gave you a million dollars to build your own home from the ground up, afterward, there would be things that you wished you had done differently.
We too frequently hear from folks that a home will not work for them because of one or two features that they don’t like. One thing we can’t fix is the location, which is why location is always the most important aspect of a property. Aside from that, most characteristics of a property can be altered and renovation loans can make a so-so home a wonderful home that you will love and be proud of. It takes vision, and a little work, but anything worth doing or having requires effort. The key is to make the numbers work. Fortunately, we are entering a market in Sacramento where the numbers are starting to working for you.
Another factor is feelings can change from day to day and trends change from season to season. The point is to focus on finding a home that is about 80% what you want. Not about the 20% you don’t want (80/20 Rule). Even more astonishing is the fact the 80% homes are more plentiful. Why? Because most buyers won’t accept the 80% home when they are trying to find the perfect home in Sacramento. Their limited vision gives you a leg up on the price. Less demand = better deal for you.
This is how investors operate and become rich. Well, your riches can be in the form of a terrific home that you got for a good deal and added value to. Any outdated features can be fixed before you even move into the home. Walls can be knocked down to make the living spaces more open, can lighting can be installed. In fact, you can likely be living in your newly purchased/renovated home much faster than waiting for that “perfect” home to come on the market which, as we know, isn’t really isn’t perfect anyway.
Remember, perfect homes don’t exist. But wasting time and money chasing a fairy tale does exist. I encourage you to talk to your lender about a renovation loan. The best lender I know is Dan Tharp along with the renovation specialist Howard Nordberg. These two are industry diehards, local to Sacramento, and the best in the business. You can tie in the renovation loan with your new mortgage and close both at the same time.
The market is softer right now, so we can very likely get you into a home for under the asking price, giving you (and your contractors) the opportunity to renovate the property to your SPECIFIC needs. Much closer to your desired home than you will find just by waiting for the “perfect” home to come onto the market.
Maybe something close to the “perfect” home will come on the market, but by then, interest rates will have gone up even more (Fed Reserve Meeting Schedule) and prices will have gone up more. The market is not going down in Sacramento. We can talk about this one on one if you would like. Call Josh Amolsch at 916.224.2756.