A couple of weeks ago, I got a call from a great past client looking to buy another home in Rocklin. We had lots of homes to view in their $350K-$450K price range. That’s because inventory is up in Rocklin and homes are staying on the market longer.
In fact, home inventory has doubled in Rocklin since the same time last year. There are twice as many homes to choose from for you lucky buyers out there. The best thing about all these homes on the market is that it makes for a buyer’s market where buyers win key negotiation points at every turn.
Out of the ten homes I showed my clients, five of the listing agents called or emailed me immediately after showing to find out if we were interested in making an offer. While I DO appreciate their hard work and tenacity, this is actually a BAD thing for their clients. Here’s why: DESPERATION.
Nothing shows desperation like a listing agent calling you up RIGHT AWAY to encourage an offer. Undoubtedly the buyer’s agent, in this case me, will be able to sense the seller’s situation and pull valuable information that will help the buyers. They will know that there are no other offers on the table, and probably no competition. They will probably be able to find out why the seller is moving and understand their urgency to sell. They will be able to write an offer to best benefit the buyers because they have probably figured out the seller’s bottom line.
In the case of my Rocklin client I was able to negotiate a pretty great offer. They were able to buy for a pretty good chunk less than the listing price with key repairs made and paid by the seller before the close of escrow.
Please Note: This article was written 10/1/14. If you are reading this at a later time, the market conditions may have changed. Please email or call Rocklin Real Estate Broker, Allan Sanchez for the most up to date information.
Higher Home Inventory in Rocklin = Buyer’s Market