There are currently only 47 Active homes on the market in Brentwood, California ranging in price from $205,000 to $5 Million. Of the 47 active homes, 19 of them have been on the market for a week or less and will probably be sold in the coming weeks. Home prices in the area have increased over 10% the past year and homeowners that were underwater are now realizing that they either are no longer underwater or are getting very close to breaking even. This gives us hope and comfort that our market is coming back strong. YES!
With record low interest rates and still low prices, it would seem like it is a buyers’ market. However, with only 47 homes to choose from in Brentwood it’s very difficult for potential home buyers to find something they like without having to compete with many, many other buyers trying to do the same thing they are.
Some potential sellers have chosen to test the waters and put their homes on the market for prices that are above the market price. In a market that is trending upward like ours is, this might be a good strategy assuming that the price is within reason. These homes are more apt to stay on the market longer and run the risk of having a ‘stale’ listing. Homes just coming on the market are looked at right away and the ones that are priced right are snapped up within the first week receiving multiple offers for sometimes above the asking price. Homes that have been on the market awhile might have to lower the price to stimulate interest. Either way, if the home sells for a fair price then everybody wins.
Another strategy that works well in these times of low inventory is to consider New Home Construction. In this arena, there is also a limited number of homes being built but the completion is less. The best part is that you’ll know right away which homes are available and which are taken. There are many things to consider when purchasing new construction like upgrades, landscaping, continuing construction, etc. In addition to this, there are nuances in the contract process as well as considerations as to whether to use the builders lender or your own.
In 99.9% of the Real Estate transactions, the average person is represented by a Real Estate professional. Realtors are free to the buyer and there is no reason in this litigious society of ours that you should choose to do it on your own. This is the case also for purchasing New Construction. Being represented by a Realtor that is knowledgeable in the new home construction process can save you plenty of money and aggravation. BE AWARE – You must have your Realtor with you the first time you visit a subdivision whether you are definitely considering that subdivision or not. They have to be present and sign in so that you can use them in the future should you decide to purchase. You don’t have to use them but the option to use a Realtor IS GONE if you don’t have them with you when you register at the subdivision. Be represented and take your Realtor with you every time you visit a new home subdivision.
I have been through the process many times and will assist you along the way to ensure that you know the deadlines and associated cost of missing them. I will even send you updated pictures of the progress of your home. Call me at 925-336-4938 and I will gladly assist you in obtaining your dream home.
Happy House Hunting!Dan Craddock Resolute Real Estate firstname.lastname@example.org www.dancraddock.com 925-336-4938 CA DRE # 01907845