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How to be a successful buyer in Belmont, CA

By
Real Estate Agent with Compass CA DRE# 01215160

With our extremely limited inventory of houses for sale, what does it take for a buyer to successfully purchase a home in Belmont, California?

Here's what worked for my first-time buyers, who will be closing on their home next week:

  • They had a plan, they knew their financial situation, they knew what was important to them.
  • They shared that information with me so I could focus on suitable properties, and arrange showings within a day or so of hitting the market.
  • They worked with a lender I knew and trusted, promptly got everything to the lender that she requested.
  • They read the disclosure packet as did I.
  • They asked numerous questions to gain full understanding; they signed all pages once they understood what they meant.
  • They listened to my assessment of the house, the market conditions, and the statistics I prepared for them.
  • They made a clean offer, at a very good price, with terms appealing to the seller.
  • They removed their one contingency on time, and we're set to close on time.

If you are a buyer today in San Mateo County or the Silicon Valley, the road to home ownership often isn't quick, and it's not easy. But ---

it can have a great reward at the end!

Belmont house

 

 

 

Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Lottie, It's a blessing to work with buyers who have the funds to buy in the market. I am not referring to qualifying for a loan. I am referring to the amount of money a buyer must spend over and above list price, market price, to get an offer accepted.  Buyers need to listen to their agent's advice if they want to beat out the competition.

Jul 23, 2015 04:19 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

It's a difficult market for buyers, for sure, Kathleen Daniels. Even with sale prices $100,000 over list, I'm seeing appraisals come in at value, so that is the market price.

Jul 23, 2015 04:27 AM
Jane Peters
Home Jane Realty - Los Angeles, CA
Los Angeles real estate concierge services

Those buyers picked the right agent for sure. It is not easy these days to be the successful buyer of a home. You guided them well.

Jul 23, 2015 05:33 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Thanks for the kind words, Jane Peters - it's teamwork; buyer, loan officer, Realtor®, all working together.

Jul 23, 2015 05:43 AM
Jon Kolsky
Kolsky Realty & Management - Long Beach, CA
Licensed California Real Estate Broker

Lottie Kendall ~ AWESOME POST!!! With limited inventory not only do you need to be a savvy buyer, but also they need YOU, too!

Jul 23, 2015 07:48 AM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

Wow Lottie Kendall! This post says it all about quality successful buyers. Great coaching also! 

SORRY! (My blog post was delayed this morning cuz of the AR auto post failure)

Jul 23, 2015 07:50 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Yes, Lottie, I understand that is how the market works

However, many buyers coming into the market don't. They see a list price and think they can buy the house. We know otherwise. We know that without a lot of money to add, someone else will throw in $100,000 or more and that buyer gets the home.

If appraisals come in at value, and the offer price is $100,000 over list, and list is at the then market price, then I see an issue with the appraisal. Appraisers are supposed to use comps not offer prices to get to value. I am very concerned at what we are seeing in the market ...again.

Jul 23, 2015 08:48 AM
Nancy Laswick
United Real Estate - Phoenix, AZ
Your REALTOR® For The Valley Of The Sun

A great step by step case study in how to become a successful home buyer in a high demand low supply housing market Lottie Kendall.

Jul 23, 2015 05:55 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Good morning, Jon Kolsky and Nancy Laswick  - remember the old Sesame Street song, "it's not easy being green" - we can substitute 'a buyer' for 'green.' But, buyers can be successful.

Hi Paul S. Henderson, Realtor, Tacoma Washington - I like your phrase, "quality successful buyers." These buyers have what it takes to be successful, and they're delightful people, too.

Jul 23, 2015 10:19 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Hi Kathleen Daniels - ours is a tough market for buyers, without a doubt. It takes knowledge, confidence and persistence, tempered with prudence. I don't want any of my buyers making rash decisions.

Jul 23, 2015 10:25 PM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

They had a plan and knew to trust you. And the end result is that they will be closing soon and live happily ever after, I hope.

Jul 24, 2015 12:03 PM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

That's definitely the hope, Debbie Reynolds - I'm wishing my buyers years of happiness, and a rich, full life in their new home.

Jul 24, 2015 11:45 PM
Lou Ludwig
Ludwig & Associates - Boca Raton, FL
Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC

Debbie Reynolds 

Follow Debbie's check list on How to Be a Successful Buyer in Belmont California . . . . and use Debbie Reynolds as your real estate professional.

Good luck and success.

Lou Ludwig

Aug 01, 2015 06:12 AM