Insights For Buyers In A “Hot” Market

There is no question the San Ramon Valley Real Estate market has heated up recently.  Due to the low inventory of non-distressed homes for sale, a rise in the average sales price and the resulting multiple offers, the best homes are moving on and off the market at a very quick pace.

Buyers can make two common mistakes in this kind of market and it rests on their Agent’s shoulders to them avoid them.  Here is what I’ve seen:

  1. Hesitating.  First off, before you ever look at homes, you need to make sure you have been pre-approved for a loan.  It is standard for Sellers to require this before they’ll take an offer from you.  Next, there is no room for today’s Buyer to act leisurely when they see a home they like.  See it immediately, and if you are going to make an offer do that as soon as possible as well.  The difference can be costly between being the only offer and one of many.
  2. Acting out of Panic.  Things can move so quickly it panics, freaks out, or otherwise completely screws with the psyche of the Buyer.  Especially if they’ve already lost out on a home they really wanted.  This can cause them to end up in a home that doesn’t really fit them, that has some severe problems that they want to overlook or is not really in their price range.  The key here is to understand that there is really no one single house that will meet someone’s needs and wants – there are many. New options constantly come and go in the market and each home you look at makes you more educated to assess the next one.  With urgency is the outlook today’s Buyer needs to have – move quickly but don’t panic.

Now there are certainly other items Buyers need to be aware of in a “hot” market, and it is the job of your Real Estate Agent to educate you on all of them.  If you need any additional information please reach out to me – I can help you and you’ll be able to say:

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About CarolSawdey

I'm a Broker/Realtor in the San Ramon Valley. A trusted advisor in the local community: We help people buy and sell homes. We counsel them thoroughly. We negotiate to their advantage. We keep their stress to a minimum. And we love what we do!
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