Potential Home Buyers Are Wondering.......


We all know the market is HOT, inventory is low and if you are a buyer, it's a challenging time. Now more than ever, it's important to work with a real estate professional to help guide you through the purchase process. Here are a few questions buyers are asking....


Why use a Realtor?

1. Our relationships with other agents may give you an advantage by finding "off market properties" that haven't been publicly listed.

2. Our knowledge of local inventory can help figure out your offer approach

3. Our connections to local vendors can reduce turn times for inspections and closings.


How much should we offer? None of us have a crystal ball but the agent can use their resources to help gather information to help you position your offer. We need to know:

  • How many showings have been held?

  • How many offers are in hand?

  • Seller's motivation? Timing, rent back needs etc...

  • When are offers being accepted? Sometimes there is a waiting period and other times, a seller reviews offers as they come in. Either way, be prepared to make an offer quickly. Have your proof of funds and pre-qualification letter ready to go.

If multiple offers are on the table, "sweetening the pot" can entice the seller.

  • Make an offer at or above list price

  • Offer shorter contingency periods

  • Offer all cash with a quick close (if applicable)

  • Offer to pay for escrow and title fees & don't ask seller to pay for home warranty

  • Offer free rent backs for the seller if you know they need extra time

All these incentives can help but make sure your financial comfort level and timing are not compromised because once your offer is accepted, you should proceed with full commitment.


Am I paying too much for this property?

I pull comps for my client so they know what similar homes are selling for in the immediate neighborhood. I use average price per foot and average sales price to help provide data HOWEVER..... with limited inventory and high demand, comps and averages don't always work. In this market, it's more about how much the buyer is willing to pay versus how much the home is worth.


Maybe pricing will continue to increase, maybe there will be a softening of the market but either way, you need to go into the purchase with a "no regret" attitude.


Recently, some homes in Pebble Beach and Carmel have sold for $100,000-$400,000 over asking price so be prepared for a competitive market. Don't get too invested until you have an acceptance and know that you may not get the first house you want. Finally, don't let excitement get in the way of a responsible financial decision. There will be other properties that come on market so be patient and be prepared to move quickly.