Market Explanation: 7 Types of Sellers in Placer County:
Right now, there are 7 types of sellers in Placer County. There is traditional , foreclosures, auctions, short sales, flips, new home subdivisions and spec homes. It is really important if your buying a home in Placer County to choose an agent that will show you all of the options and explain all of the details of each transaction. I will briefly describes the difference between each type of seller. It is important to understand when purchasing a home, that each type of seller is different and you need an agent that understands the difference so you will get the best opportunity to buy the home. You also need to understand the psychology of each seller as well and know the time-lines. With the right knowledge and the right agent you can make a large decision a little easier.
- Traditional Seller: Also called Equity Sale.This is a seller that has a home to sell that has equity and hopes to “make money” on the sale. They usually will do what it takes to sell at the highest price. These homes are nice because they can most likely close on time and have repairs completed. If your thinking about selling your home, I can give you a market analysis and tips on how to get the best price and terms.
- Foreclosures: Also called REO or corporate owned, these are homes that the banks have taken in the foreclosure process. They are a mixed bag of condition and most of the time they will have multiple offers and lots of investor interest. If your looking for a deal, give me a call: 925-997-5758.
- Auctions: These can be found on the mls sometimes but they are also held at the court house steps. These are what I call “high stakes” buying. You have to pay cash and you do not know what your buying or what liens might be on the property. Also there is a lot of competition at the court house from big investors that buy and flip. If your interested in this type of sale you need to call me, I can not help you buy there but I can help with some information.
- Short Sales: With the Forgiveness of Debt act expiring we are going to see a lot of short sales. Short Sale is when a seller owes the bank more on the mortgage than the home is worth and in order to close escrow the seller needs to negotiate or have a Real Estate agent negotiate a lower price for the home and clear the lien. Sometime there are multiple liens. These can be good deals especially for the first time home buyer because of the time-lines there are not as many “cash investors” out bidding each other. Need to short sale your home, call me we can have a free confidential appointment and work on a recovery plan for your family.
- Flips: These are homes purchased by investors then "fixed up" and put back on the market. Some of these are great for first time home buyers but you need the right agent that can make sure you are protected from unprofessional work and also to make sure your loan can close on this type of sale.
- New Home Sales: These are starting up in Placer County and building is really picking up again. I visit all New Homes Subdivisions in Lincoln, Roseville and Rocklin and I know what each home builder offers and what the “builder agents” will not tell you! You need your own agent if your looking at new homes, you want the best deal and it does not cost you anything to use your personal agent. Do not sign in at a new home subdivision unless you take me with you. I will be on your side and help you through the process and make sure you are buying the right home at the right price for your family.
- Spec Homes: These are starting to pop up again, I have seen them in Loomis and Lincoln California. A small custom builder will buy land and you can have them build a custom home for you. Like all the sellers, you need your own Buyers Agent to represent you.
This market has lots of opportunities! And lots of pitfalls. Call me and I can help you navigate your way into your next home.
Shannon Coe Realtor #01489731
Keller Williams Roseville