Buyers: The media continues to glamorize the dropping home prices of the last couple years, but if you’re waiting on the fence to purchase a home, be careful. Sure, some analysts and economists speculate that we will not reach the bottom until 2010, but San Diego is a unique market with highly sought after neighborhoods and homes are selling now. It is simply not realistic to generalize when discussing the housing market. Especially in the sub-500k market, where there is very high buying activity and multiple offers are not only common, but expected. Homes sold are all getting bid up to market value. Homes that are underpriced will sell quickly and often for higher then the asking price. You can view all homes for sale, including foreclosures, online at SanDiegobythesea.com.
Sellers: After back-to-back months of strong gains, consumer confidence fell in June. It is important that sellers price their properties aggressively to compete. Make sure to have your buyers pre-screened before you enter any escrow. There are also many types of different loans being used right now by buyers. This variation will dramatically affect your escrow length. Make sure you are comfortable with the requirements of the buyer’s loan before you go into escrow on your property. A prudent and thoughtful marketing strategy is also crucial to make your property standout from the rest. Remember, homes do not sell by happenstance. Visit SanDiegobythesea.com to see how we would sell your property.
