I read these trends in in the latest issue of Market Matters put out by the CALIFORNIA ASSOCIATION OF REALTORS® and found the first one something that almost everyone selling real estate today is thinking about. Even my company’s general manager made the comment a few days ago these current events are frightening.
By this, she is referring to almost every home here in the City of Napa and several other Napa Valley locations in certain price ranges are getting 10-20 offers. Of these between a quarter to a third are all cash, no appraisal contingency and almost no inspection time frames. All on top of all this, offers of $25,0000 to $50,000 above asking price on anything in the $250,000 to $400,000 are commonplace.
So my question to you, are you trying to buy a home and is this happening to you? My best solution is using a great agent who can help guide you through this and give you the best chance to be the winner bidder. Yes this is a bidding war and you need to be prepared to fight for that home. Good luck and cheers cvc
- Most housing experts are saying that the housing recovery is moving ahead full steam, while others are warning that we’re getting into another housing bubble, which could end disastrously. Check out these myths about the real estate market that some still buy into:
- People are giving up on the suburbs: Widely reported statistics from the U.S. Census Bureau last year had many people thinking that, for the first time in decades, cities were growing faster than the suburbs. However, The Washington Post found that “urban cores are still much, much smaller than the suburbs, which means they can show higher growth rates even if they’re adding far fewer people in absolute terms.”
- We’re seeing a permanent shift to renting: That’s not what recent studies show. A recent survey by Prudential Real Estate found that 96 percent of American consumers consider homeownership important. Additionally, a January survey by homebuilding company PulteGroup showed that six in 10 renters who want to own a home plan to buy in the next two years.
If I can help you find the perfect Napa Valley property, please contact me