For the past two years, Buyers have dreamt of less competition or no competition when buying a home. In addition… 

• Buyers have had countless conversations with their financial and mortgage advisors about their ability to waive financing and appraisal contingencies. 
• Buyers have poured over disclosure packets and studied inspection reports because competition forced them to waive inspection contingencies and accept a home in as-is condition.
• Buyers have creatively written love letters to Sellers with a pick-me theme.
• Buyers have dropped everything and jumped in the car to quickly see each home that meets their needs.
• Buyers have pushed themselves to extreme discomfort levels to become the winning bidder for the home of their dreams.
• 30-Year fixed-rate mortgages or cash offers have been the norm.

And now, there is an opportunity to enter the housing market a little easier! Here’s what has recently changed for Buyers and Sellers in today’s market? 

• The pricing strategies of listing agents and clients. Without multiple offers, the real estate industry is forced to move to an accurate (transparent) list price strategy.
• The number of homes receiving multiple offers is very few. 
• Offer dates are being removed and Sellers are accepting the first good offer received.
• We are back to the “Wild West” with pre-emptive offers re-entering the marketplace only they are no longer at wild prices.
• In some cases, Buyers are beginning to write their offers with loan contingency requests, repair requests and contingencies to sell their homes.
• Buyers are considering different financing options such as adjustable-rate mortgages, and interest-only mortgages, or they are opting to pay points to buy down their interest rate. 

Do you have the ability to act in this market or are you missing this opportunity and frozen in fear?

Buyers who are quick to act and seize today’s opportunities will thrive. Today, Buyers can purchase their dream home, often at a slightly lower price, without as much competition, and lock in today’s interest rates before they continue to escalate. Even more importantly, Buyers can move into their new home and start living in this incredible community. Sellers who price their homes fairly and don’t get stuck on yesterday’s value, are much more likely to find a Buyer quickly and move on to their next chapter. Just a reminder, over the past 10 years, the Lamorinda market is up 167%. Perhaps, that chapter might even mean you are a Buyer next! As a Buyer, you are much more likely to succeed in the Buying process today than you were 6 months ago which alleviates the panic about not being able to get into a house you want!

Whether Buying or Selling, we are here to help you obtain the confidence you need to succeed in today’s real estate market.

Dana & Team