The Natomas Real Estate Report

PAID ADVERTISEMENT

By Linda Eisenman
Keller Williams

Is this 2009? Or is it 2004? For Sacramento area homebuyers, it’s hard to tell the difference. Home prices are low – that is a definite difference – but competitive bidding can still make it difficult to get a home.

In the height of the “bubble,” fueled by speculation, offers were often over list price, and a home seeker could expect to write more than one offer, before he or she found a home. In today’s market, offers are often over list price, and homebuyers are writing up to 10 or 12 offers before they get one accepted.

What has changed? Prices are now low (pre-2001, in some areas), and competition is keen. Is this good news for homesellers? Not yet. The buyers are out there, and a well-priced home will definitely sell, especially if it is in good condition. But we are not yet seeing rising prices, at least not in North Natomas.

That doesn’t mean you can’t sell – you just need to know what the current market value of your home is, and the amount your lender is willing to take, if you are upside down. Consult your local Realtor, and, if you are selling short, be sure to get someone who is experienced in short sales. It’s a long, detailed process, and you’ll be glad to have a Realtor with that specific expertise.

If you would like more information, please contact Linda at 916-838-4338.