Now is the time to sell your home in the Sacramento CA area!
I have written about the change in the market in the Sacramento CA area, but I still hear people on the news and consumers that I talk to who believe that we have not yet reached the bottom of the real estate market. These folks claim that it is a bad time to sell. Wrong!
I have many buyers, as do most agents that I know. What is lacking is sellers. There is such a small inventory that every well-priced home is receiving multiple offers and they are selling fast - really fast.
If you are thinking of selling your home, consider doing so now, while the inventory is so tight that buyers will be fighting over it and the price will likely be higher than it would have been just a few months ago.
There are two additional factors that make selling now a good idea. First, we now have interest rates that are the lowest we've seen in 60 years! This means that buyers are eager to buy because they fear that the rates might go back up. And the low rates means they can qualify to buy a more expensive house.
And don't forget that if you will be buying another home after selling yours, you will also be able to take advantage of the lower rates and buy your new home before that home prices go up too much.
Also, people keep talking about the "shadow inventory", meaning the properties held by the banks after foreclosure but not yet offered for sale, and the homes that are in serious default but have not yet been foreclosed on. The media keeps reminding us that those homes will be flooding the market soon and this will depress prices again.
This might or might not wind up being a factor in the Sacramento area. Believe me, I would welcome more homes coming onto the market so that my buyer clients will have more from which to choose. However, most of the shadow inventory in the country is not in California.
Foreclosures are handled differently here than in many states. Although many here speak of "mortgages", we do not generally use mortgages here. We use trust deeds to secure home loans, and the trustee forecloses without having to go to court, so it is a less expensive, quicker and simpler process.
Consequently, we don't have the huge backlog of foreclosures that other states may have. In fact, the most recent reports indicate that the rate of foreclosures is down in California and banks report that they are not stockpiling large numbers of such properties.
If this is true, then inventory will likely remain low for awhile, lenders tell me that interest rates will probably remain low (remember, a few years ago we thought 6% was very low and now many are getting interest rates below 4%), and that can only mean that there may continue to be more buyers than there are homes for them to buy.
Almost overnight it appears that we turned from a buyers' market to a bit of a sellers' market. If you want to sell, do it now while this condition remains. Now is the time to sell your home in the Sacramento CA area! Call a realtor to find out what the market is like in your neighborhood.
Thinking of selling your home? Remember it costs you nothing for me to come out and discuss your home, the market in your area, and give you a market analysis and presentation so that you will know what you can expect to get for your home.
Call for appointment: (916) 705-8951
Also Remember, I can help you to tour any home for sale in Sacramento County and the surrounding areas, no matter what firm has it listed, and I can help you with your purchase if you find the perfect home for you.
Just give me a call at (916) 705-8951
Broker / Realtor
Susan Neal Fine Properties
Century 21 Noel David Realty
Fair Oaks, California
Full time real estate services in Fair Oaks CA, with friendly professionalism, 30+ years experience.
I work hard to give my buyer or seller a low-stress transaction.
"Happy clients make me happy."
For all your real estate needs or questions, call me at (916)705-8951 or visit my website at www.SusanNealFineProperties.com.
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