| California Buyers’ Information
So it’s a down market – not good news for sellers, but if you’re a buyer then you’re lucky. Prices are finally starting to come down after years in the stratosphere and the odds of making a good real estate investment are in your favor.
A down market means significantly more sellers than buyers. It means that when a seller finds a potential buyer – you – he or she will not want to lose you. You can ask for concessions and have the price negotiated down a bit. California buyers are now enabled to do things like these, after years of being at the mercy of a seller’s market.
We have a buyer’s market today, and if you’ve been thinking about investing in real estate stop thinking and do it. Now’s the best time to look around for that dream home or investment property you’ve always wanted, but whose price tag was just too steep.
You can get really good deals if you want to. You can focus on the foreclosures market whose inventory hasn’t been this big in years; or you can target properties that have been on the market for a while. Chances are the sellers will be more amenable to negotiation and to giving concessions.
The real estate market isn’t performing as well as it used to, but that doesn’t mean that you should avoid it altogether. Capitalize on the opportunities it offers now and you may still be patting yourself on the back 20 years from now.
Buyer Articles
California Sellers’ Information
Things aren’t so sunny in the Sunshine State’s real estate market, that’s true, but though there are clouds overhead and on the horizon the weathermen don’t think a storm is coming.
In fact, according to a Real Estate Investor Survey conducted earlier this year, real estate investors are still optimistic about the market. 82.1% of them even stated that they planned to acquire investment property within a year’s time.
California sellers also have to be aware, however, that 54.5% of these real estate investors are actually looking for property outside the state. Let’s face it, real estate in California is just on a different price level than most of the country. After all, the median home value of a home in Southern California, for example, is $505,000 which is significantly above the national median home and condo price of $212,300.
That being said, sellers nonetheless shouldn’t panic. Real estate – and California real estate in particular – always swings back. High-end and luxury properties, in fact, have been enjoying steady, and even rising numbers.
For the moment, however, experts agree that California sellers should be a bit more patient. The market is still down, with 73% of investors saying that they’re interested in properties with a less than $300,000 price tag. So unless, you’re really ready to sell now, it’s best to just wait things out.
If you want to put your property on the market, now, however, then the most important thing you have to bear in mind is pricing. Don’t alienate buyers by pricing your property too high. Your home will just stay on the market longer and you’ll eventually be forced to bring the price down anyway.
Seller Articles
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