You hear it often nowadays, it’s a fast-paced and crazy real estate market, but don’t let that deter you from becoming a homeowner and finding the dream home you’ve been searching for.
The average home in San Diego is currently on the market for approximately 23 days. Prior to starting the search, I always recommend that my Buyers have their loan pre-approved and their down payment seasoned and parked in their bank accounts. It is also imperative to have a solid idea of when they would like to close on a new home. By having a mortgage pre-approval and a realistic plan in place, this will help to determine the parameters and save time and heartache.
Multiple offers have become the norm here in San Diego, like so many other real estate markets throughout the US. Prospective Buyers need to have all of their ducks in a row in order to compete and act quickly. I frequently find myself telling first-time Buyers, if you sleep on it, you might never have the opportunity to sleep in it!
As a Buyer, you need to come in being realistic as well as open-minded. Time is of the essence, therefore, the longer you take to negotiate a deal, the more time it literally leaves the front door open for a Seller to receive other potential offers. Remember, it is not a deal until all parties have signed on the dotted line.
Technically everything is negotiable in real estate, not just the listing price. That being said, while you may not be able to offer a crazy amount over the asking price, you do have the option of being able to write an offer that could entice Sellers with creative incentives that are of equal, or perhaps even more value to them personally. While I am obviously biased in my opinion, working with a seasoned and experienced real estate agent can really help to make or break a deal. Not only can an agent provide value and assistance in making your offer appear more attractive than others, often they have had a long-term and positive working relationship with the Sellers listing agent. This alone could add an invaluable amount of influence on the outcome of a decision.
I always tell my Buyers, never assume that you won’t win out in a multiple offer situation. After all, there are numerous factors that come in to play. For instance, something so simple, like perhaps offering the Seller the opportunity to stay in the home for a reasonable amount of time after the closing date, might make a huge difference in their decision-making process.
Purchasing real estate is like playing the lottery, but you have to play in order to win.
About Max Mervis
Max Mervis is a seasoned real estate agent who has represented both Buyers and Sellers in over 750 million dollars in transactions. His knowledge of the marketplace is unrivaled, as is his familiarity with available homes and trends. Max follows a simple philosophy: “Care truly about your client, always appreciate their business, be honest and work to the best of your ability.” He also has an extensive knowledge associated with high-rises and luxurious new home developments both in California and Texas. If you are in the market to sell or buy a new home or investment property, feel free to contact Max at 619-980-8385 or send an email to MaxSellsSanDiego@gmail.com