home buyers in sacramento
When one door closes, another opens and gives home buyers in Sacramento a second chance. I admit that I was a bit bummed yesterday when a previous client bailed on listing his home to sell to some stranger he met in the street, on top of They Might Be Giants canceling the show in Berkeley, but I solved that disappointment by focusing on other things. Things you can’t change you need to let go of, immediately. Especially in Sacramento real estate. But that thinking does not apply to canceling a transaction because home buyers in Sacramento have cold feet.
The thing about selling Sacramento real estate is the landscape and climate continually changes from year to year, the market is never the same. The only thing that manages to hold true is the shape-shifting of the challenges. We Sacramento REALTORS always tackle challenges, it’s the name of the game, they just change form.
A few years ago, it was things like the REDC Happy Thanksgiving short sale, in which the negotiator demanded that the seller stop celebrating with his family and start digging into his file cabinet for documents. On Thanksgiving Day. Today, most sales are no longer short sales anymore in Sacramento. They are regular equity sales with traditional sellers. Not only that, but our market has shifted a bit more toward normalcy, even with limited inventory; it’s more balanced.
As a blogging Sacramento agent, I try to narrow my blogs to a singular thought, but I have 3 things that keep popping up over and over in unison about home buyers in the Sacramento housing market — which, if I don’t discuss these 3 observations in one blog I might never get around to it. The first is the problem in Elk Grove. I’ve lost count of the number of offers I’ve negotiated for my last bunch of listings in Elk Grove that have fallen out and had to be sold a second, third or fourth time.
For years, first-time home buyers in Sacramento were getting the short end of the stick, and in many ways, they still are. That’s because sellers and listing agents tend to prefer the so-called stronger buyers, which would be the home buyers with cash or those obtaining conventional loans with substantial down payments of 20% or more. Me? I don’t really care as long as the buyer can close escrow, and therein lies some of the problem.
Can the buyer close escrow? I’ve had some CalHFA buyers flake out at the last minute, due to some sort of snafu or tiny change in their financial situation. These are buyers who might not have a down payment and need down payment assistance and, if they don’t have money for a down payment, they might not have any money for closing costs either. Is that a crime? No, Sacramento home buyers can still get 100% financed loans and sellers can agree to subsidize their closing costs.
When greed and the need for shelter love each other very much, buyers for homes in Sacramento pop outta nowhere. Well, that’s the answer my husband came up with when I posed the question to him — where do buyers come from for homes in Sacramento — but he enjoys making me laugh. On the other hand, sometimes sellers think we real estate agents hide buyers under our beds. I’ve heard sellers say that they did not want to list their home, per se, they just want me to bring them a buyer. Buyers come from listings, they aren’t under my bed.