The Spring 2020 real estate market experienced significant disruption when COVID-19 related lockdowns brought real estate transactions to a near standstill. Subsequently, the development of more robust virtual showing and transaction methods allowed California’s real estate industry to restart home sales and begin to satisfy the pent-up demand of eager spring buyers.
Since then, we have seen unprecedented levels of low inventory alongside record high buyer demand, culminating in a market with many frustrated buyers who may now be experiencing buyer fatigue. If you know someone who has been looking for the right home but has been frustrated after losing out in multiple offer situations, we have some advice to share.
- Be willing to consider a fixer-upper or “As-Is" property; putting in a little extra effort and money after the sale in exchange for an easier purchase process.
- Be open to new neighborhoods or different home styles rather than being hyper focused on a particular low inventory community.
- Check out new home builders to find pre-market opportunities.
Most importantly, when you work with an exceptional real estate professional, you have access to a variety of resources that help you create better, more competitive offers. In addition, your agent’s professional network offers a selection of pre-market opportunities and the neighborhood expertise that can make all the difference in the case of multiple offers.
Do you know someone who’s looking to buy? Pass along these tips to them along with my contact information. If you’re looking to sell, I have buyers who are looking for homes in your area. Let’s sit down and talk about your home’s value in this extraordinary market. You may be surprised at the latest numbers.
As always, I am here for you and happy to answer any questions you may have.
