Resetting Expectations in a Changing Market

Over the last 2 years, we sold 70+ Livermore homes…most of which received 10 or more offers and sold anywhere from $100-$500,000 over asking.

That market wasn’t realistic and was fueled by a surplus of buyers and incredibly low rates. Today…it’s time to reset both buyer and seller expectations.

If you’re a buyer….
Inventory is up and there is less competition for homes. This means you have room to negotiate on price and terms. But this is still a sellers market…albeit a more normal sellers market for the TriValley. So if a home is priced well, is move-in ready, and meets your ideal needs and lifestyle your agent should be reaching out to the listing agent and you should find a happy medium between what you’re comfortable with offering and what the seller is expecting.

If you’re a seller…
Now more than ever you need your realtor to guide you with prepping and pricing your home. Homes that are extremely clean and require minimal repairs or upgrades are more enticing to buyers. But it’s important to know that this market is property specific…and while you may think your home is better than your neighbors (Nik: and we are sure that it is) you are likely to receive between 1-3 offers. In fact the National Association of Realtors recent data shows that on average sellers are receiving 2.8 offers for their home. Of these….you are likely to get one at asking, and one slightly below as well as potentially one just above asking.

Here’s the bottom line:
Current market conditions are providing opportunity to both buyers and sellers…but you need the proper guidance when buying or listing to sell. Local conditions vary from neighborhood to neighborhood…and home to home. We can help you make sense of it all and give you a clear plan to reach your real estate goals.