Leave a Message

Thank you for your message. We will be in touch with you shortly.

March Tide – Guy’s Market Update

May 12, 2022

March Tide – Guy’s Market Update

Hello Friends, Welcome to a long-awaited Seller's Market! Prices have risen and Sellers are in the catbird’s seat. If any of you are thinking of Selling within the next few years, this current market is something you’ll want to take advantage of, and now. As we all know, Buyers have been sitting on the sidelines during the receded economy. While investors have been cashing in on distressed properties for a couple years now, the average Buyer has been waiting for signs of recovery before investing. It is clear now that the price tide has turned and Buyers are now trying to get in before it is too late for them once again. At the same time, there are VERY few properties on the market right now, leading to a highly competitive situation for those Buyers. When priced correctly, the majority of today’s listings are experiencing multiple offers within hours of being listed. It is common right now for Buyers to be removing their Appraisal Contingency upon delivery of their offer, and are showing available funds (or even placing those funds into escrow) to pay for the difference between Appraised Value and Sale Price, if there is one. Sellers today most often have the luxury of choosing between offers far above comp prices, often above asking price, and don’t have to worry about appraisal price threatening the deal. Sound a little nuts? It is! Yet, it is a logical pattern when the economy shows signs of recovery and inventory dries up. I’ve been telling Buyers for a good year now to get in before this correction happens. While the current state of the market won’t last and prices won’t keep rising at this rate, there is a significant amount of the present increase which is very real and which will remain. As more homes come onto the market in spring, the frenzy will die down and Sellers will have less power during negotiations and throughout escrow, but much of the price recovery is likely to remain. If you are a potential Seller and have questions about how to take advantage of this market, let me know and let’s get started as soon as possible. If you are a potential Buyer and have questions as to how to have your offer chosen by a Seller with multiple offers, let’s chat about that. While your position in the present market is frustrating, there are a few clever things which you can do to position your offer ahead of the competition.

Work With Guy

Whether looking to buy or sell across the California coastline, The Guy Bahringer Group is your key to success.