First authored November 28th, 2010 published here December 30th, 2010
November 28th, 2010 10:58 AM As we move into December and review the market from Merced, California to Concord, California we find that sure it's a bit hard to find that dream home right now but it's still a great time to purchase a home for many reasons including:
Low interest rates - from 4.5% to 5.0% rates remain low making home purchases more attractive
Great prices - in Merced and Atwater there are many homes such as 3bd, 2ba 1500+ sq ft under $150,000. In Concord there are several homes for sale less than $400,000.
Special financing programs - consult with local lenders today. We can provide you with contacts.
Winter months - often a bit slower time in the market after reviewing comparables on what has sold a good offer even if 10% under the asking price is more likely to be negotiated or even accepted.
If you're not ready to purchase a home right away but have some time then sign up for automatic email with an agent in your area. Automatic email sends you daily homes based on the features you want to see including the age of home, # of beds, # of baths and square footage to specific zip codes in any particular city. We can setup the search for you and be your eyes and ears. We provide our clients with previews, property profiles, history, comparables, trends and more.
Remember that in today's seller market with record low inventories it's important to have everything lined up and ready to go. To many it's still a shock that it's a seller's market. Buyers thought there would be hundreds of homes to view but there's only a handful of homes in every price range from $75,000 to $400,000 or higher to view.
Examples as of 11/27/10 include:
*Merced homes 3bd+, 2ba+, 1500+ sq ft up to $150,000 there are approximately 50 homes available.
*In Atwater there are approximately 25 homes available.
*Merced homes $150,000 to $175,000 with at least 1800 sq ft there are approximately 40 homes available
*In Atwater there are approximately 15 homes available.
Remember the key first steps in purchasing a home are:
1) Obtain a pre-approval from a lender and make sure you feel comfortable with the possible monthly payments
2) Find a home by driving the areas (both day and night) and understanding the market (we can help you by showing homes and providing guidance as your agents and there's never a cost to do so)
3) Sign up for automatic email which shows you the homes the same day they are listed
4) Continue to search but if/when you find a home be prepared to make an offer quickly
5) A great real estate agent will help you throughout the process and make sure you are protected. Often buyers don't understand the relationship between a listing agent (representing a seller) and a buyer's agent. A buyer's agent will work for you as the buyer and only you representing your best interests.
6) Make an offer and make sure all contingencies to protect you are covered in the offer.
7) Navigate the purchasing process step by step with your agent.
8) Maintain approval throughout the process by working with your lender.
9) After all inspections and lending steps are met close on the home.
I would be honored to represent you as your agent. If in Merced, Atwater, Turlock or Modesto contact me today for guidance and solutions. Contact Doug Van Riper by email or phone if you're in the East Bay area (Concord, Walnut Creek, Pleasant Hill).
Hoping you have great holidays!
Scott Messing
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