Local Inventory Is Up – and Buyers’ Desire Is Rising As Well!
It’s Friday! Can’t believe that the weekend is here already!
And the Super Bowl is on Sunday! Yeah, our guys are not in it, but I still think this one could be interesting.
However, if you’re not into watching the game, there are some new houses coming on the market, if you want to see what they look like, get some ideas or just get out of the house.
We have a new listing in Concord as well. It’s a great single story with a one-car garage and competitive price point.
East Bay inventory
There are only 54 homes for sale in all of Concord. Walnut Creek has 36 homes, Pleasant Hill has 19 and Clayton only has 11 homes for sale. (Probably why last week’s blog stated that one home in Clayton received 20 offers!).
Buyers are out! They are calling, looking for homes that are not on the market or coming soon. I don’t feel like they are looking for a deal or low-ball opportunity, more like they just want to lock in today’s mortgage rates and know they have a home to move into in the next couple of months. Private sale is the term we use.
How does it work?
Essentially, your home is sold as-is (current condition), with maybe a longer close of escrow so you can pack and move out. Pre-inspections are completed so a buyer can better understand the current condition of your home. Plan on spending about $1,000 on these (roof inspection, termite, home and possible fireplace or sewer inspections).
Only buyers who are pre-approved with a strong desire to live in that neighborhood or only want a certain sized home will be contacted for this opportunity.
Why does this work well? Control!
Control over the terms and timing. What could be the downside? Not having your home on the open market with a specific marketing plan, professional photos, open houses and plenty of views by active buyers, which could increase the number of offers or offer price.
Every seller has different goals and needs, so understanding the full scope of your options and determining what works best for your situation is only a conversation away with an experienced Realtor.