The Market Shift..

I recently attended a city planning meeting in Hanford and came to a realization. I talked with one of the members on panel, a previous Title Company owner, and he was telling me how Hanford is a couple of steps behind the bigger surrounding cities. Especially when it comes to real estate. If something is happening in Fresno or Visalia, and not Hanford, it will soon.

I began to think about it, and it was all making sense. When I sell a house in Fresno, I have to write up the offer different than I would for a house in Hanford. Fresno is a HOT market right now for Sellers. Buyers aren't allowed to ask for ANYTHING or even think about coming down in price. It's full list price, with no buyer's fees being paid by the seller. I warn my buyers that in order to get their dream house they can't ask for a lot of things. Its a competition!

When I sell a house in Hanford, I recommend asking for as little as possible, but you generally get the majority of fees paid. It did not dawn on me that Hanford would be the same way in just a matter of months! It all makes sense now! As the months go on, multiple offers on one house with the Seller's agent warning the buyers to put their best offer forward, we're slowly shifting. We are shifting into what is called a Seller's Market.

The good thing... You can't have a Seller's market without a lot of buyers. Interest rates are LOW right now and it's allowing for you to afford more house at less of a payment. So buyer's don't be scared by the shift, you still have plenty of reasons to buy. Sellers, take advantage of this offer, you have more control now!

You're buying a home... Not honeydew!

It is never an odd scenario to hear a buyer request a home that is move in ready and allows them to do nothing more than turn their key. Who can blame them? There is usually a lot better things you can do with your spare time, rather than fixing your house. Although, there are some things to think about!

First, homes that are completely move-in ready are typically priced at the top of the market. The seller of the home thinks that since it is move in ready, with all the work taken care of, they should get top dollar. The weird thing is, they're right. If you're expecting to buy a move-in ready home, expect to pay a more firm price tag.

Second, "move-in ready" means different things to different people. My suggestion is if you're wanting a move-in ready home but willing to do SOME little projects, just make sure the big stuff is taken care of. Big things are structural repairs, the roof, the A/C unit, etc. Smaller things like carpet, paint, and cleaning, are things that are much more inexpensive, and a fast turnaround. Leaving you only a week or two until you can finally move in.

Sit down and make a list of what you can and cannot do. This post revolves fully on a newly-wed couple I am helping buy a home and the first thing on their criteria was a home without a honeydew list. I was very confused until I realized it wasn't so much the sweet green melon, as more of a "Honey can you DO this, Honey please FIX this" List.

Oh... Honeydew = Honey DO. I sat down and talked with them and really found out what their limits were and what was acceptable to put on the temporary honey-do list. So when you're buying a house and don't want the constant repairs, find out what is acceptable for you to do and think about your budget and whats important.

You'll be Home-Sweet-Home in no time! 

Hopefully the green honeydew sweet!