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First-Time Home Buyer Angst and Stress is Normal
Probably because of the lower prices in Sacramento, I have been working lately with a larger than usual number of first-time home buyers. Almost 80% of my closed sales for the last quarter were first-time home buyers. The other 20% were investors, and investors are hot-to-trot over entry-level homes as well. Throw into the mix that much of the inventory offered for sale are bank-owned homes or short sales, and you've got a lot of competition for some homes.
It's not easy for buyers to write that first offer. Many are filled with trepidation that they will screw up somehow or make a huge mistake. But that fear is quickly overshadowed when they find out their offer was rejected because it wasn't high enough, and some other lucky buyer snagged their dream home. Winning offers are often just a $1,000 or so above the second highest offer. That's extremely stressful for buyers to digest. To be so close, yet so far away, from home ownership.
Yet when an offer is accepted, some buyers can't believe it. They keep waiting for the other shoe to drop. They say, "Something is wrong with this deal. We got everything we wanted." And then irrational ... more

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