What It’s Like to Be a Sacramento Home Buyer
Where does a Sacramento home buyer get her information? She talks to friends, family and coworkers. Maybe she dabbles around at the Sac Bee website on her cellphone but she’s pretty much focused on her life, her own situation. Just like anybody else. She puts on her pants one leg at a time, brushes her teeth, worries about her job, feeds the cat or walks the dog and doesn’t spend a lot of time thinking about the state of the real estate market in Sacramento. That’s because she is not a real estate agent. She is a Sacramento home buyer looking for Sacramento homes.
It’s up to real estate agents to explain to potential home buyers what the market is like in Sacramento. Tell them what they can expect. I tell it to them straight. I figure it’s better that they be prepared than shocked. Don’t need anybody having a heart attack and dropping dead at my feet. Maybe this is NOT the time for them to buy a home. I know I would NOT want to be a home buyer in Sacramento today. That’s the truth. Because there is tremendous competition for the same homes. It’s an extreme seller’s market. Many buyers, little inventory. Many all cash buyers who will outbid an FHA or VA buyer. Multiple offers are normal right now. This is a sizzling hot market!
I spoke to an agent yesterday who told me she had submitted an offer for her buyer and the listing agent said her offer was #18. The funny thing about this situation is the listing agent was holding out for more offers. Why? Why on God’s green earth would a seller or an agent need to collect more purchase offers than that? Talk about misery. If one can’t find an acceptable offer among 17 offers, I hate to say this, but something has gone horribly wrong with the agent, the seller or both. Another agent lamented that he had not had an offer accepted for any of his buyers for more than 30 days, and he writes 4 to 5 offers a week.
Sacramento buyer’s agents are suffocating.
I’ve had buyers call me directly and ask if they can get an edge by working with a high producing Sacramento listing agent. I guess they figure they’ll go where the homes are rather than waiting for the listings to come to them. It’s a desperate situation. Buyers need to prepare for disappointment. A Sacramento home buyer might not be able to buy her first choice or even her 10th choice. She needs to slap on that steel armor and keep her eyes on the horizon. Above all, don’t give up. Align with an experienced Sacramento REALTOR.
It is possible to buy a home in Sacramento. I see happy home buyers go into escrow every week! In addition to hitting refresh on that MLS link, home buyers can also check my Sacramento short sale updates to see which listings are coming live. Voodoo dolls, prayers on your knees, salt over your shoulder, whatever you’ve got — use it.