Realty One Group
I am a contrarian I have done fine avoid the competition and unnecessarily hassle. I found our home during a Superbowl. The seller asked us what does it take to make an offer. I jokingly stated if it if they will consider a trade and pay for closing cost. They sellers said "OK". The sellers did well also. With a steep home appreciation at the time they sold our old home traded for a good profit.
In Silicon Valley, it has been a seller's market for decades. During the Great Recession, 260,000 tech jobs evaporated. Just a few years earlier, the Dot Com crisis shed another 190,000 jobs. The distressed properties then comprised of 60% total sales. In the midst of Great Recession the investors jumped on the wagon bidding homes aggressively. A couple I have written 5 prior offers all were not accepted. During the year end, we went out and I got them a few choices. They kept thanking me as their child was on its way needing a bigger place.
With lower competition at year end most home sellers will consider all reasonable offers. This year in Saratoga, CA the estate home seller has dropped asking price a few times since summer. It was initially priced for a seller's market. Then demand for high end homes became soft. There were no new IPO offerings. Cash foreigners balked at the asking price. With not good earning news from Yahoo, Cisco, Twitter and Apple, people are wondering whether the stellar price level can be sustained? San Francisco rent dropped as high tech workers were leaving. Twitter and other high tech companies are reducing head count.
If one does not want to face the uncertainty of interest rate hike which is coming for certain, take note of these benefits listed and contact your realtor. After New Year there is often a vacuum of no home sellers and all buyer. Often the inventory comes from probate or estate sales the condition of these neglected homes and greedy heirs are something people can live without having to deal with.