Geek's Number Talk: Slim Pickin's

Did we mention inventory is a little lean? Okay, it’s a lot lean. And that’s driving prices higher and triggering a lot of bidding wars. Here’s a look at where things stand in Santa Clara County:

Chic vs. Geek: Making a Winning Offer

Homebuyers in today’s market are facing steep competition. Low interest rates, pandemic-prompted home shopping, and extra lean inventories are colliding to fuel high demand. And according to the California Association of Realtors, one of the fiercest markets is the Bay Area. So what does it take to make a winning offer?

CHIC (PEARL)

Lately, we’ve seen a lot of buyers' fatigue and clients who wanted to give up. We’ve also been in multiple bid situations that went more than 40% above the listing price. Here’s how to stay competitive:

Position your financing like a cash offer – Offers with non-contingent financing are proving just as strong as all-cash, and down payments over 30% are very competitive.

Bring your best offer, not your best price – Stand out with a flexible or quick closing date, depending on the seller's preference.

Find a good communicator – Your agent's relationship with the listing agent could make all the difference in negotiating a mutually beneficial offer.

GEEK (KEVIN)

That’s all good, but what is it’s still not enough to get the job done?

Consider waving and/or minimizing contingencies – This can be a gamble, but it's growing more prevalent. That’s why it’s important to have an agent to guide you.

Put more skin in the game – Pay the initial 3% deposit within one day of your offer being accepted, buy a one-year home warranty, and more.

Know when to walk away – In the end, you may get out-bid, no matter how strong your offer or how well positioed. Sometimes the smartest move is moving on.

Want to learn more?

Client Story: Meryl & Bradley

We’re grateful for all of our clients, and we treat them like family. But you don’t have to take our word for it. Learn about Meryl and Bradley’s journey to their new home, and read more testimonials.

Planning a renovation? You’re not alone.

A quick walk around the neighborhood will tell you what industry studies are starting to show: home renovations are on the rise as the Bay Area emerges from pandemic restrictions. Get the full scoop from Palo Alto Weekly.

Just Listed: 55+ is the new 30!

Located at The Villages Golf and Country Club, a gated 55+ community tucked in San José’s lush Evergreen Valley, this home features a wrap-around balcony overlooking a lake, the perfect spot for watching Northern California sunsets! Inside the house, high ceilings, large windows, and abundant natural light lend warmth to every room. A huge kitchen and flexible dining space offer options for entertaining. There’s also an extra room that would be ideal for a home office!

Residents at The Villages can take advantage of an 18-hole golf course, pro shop, and practice facilities, as well as a clubhouse restaurant and bistro, newly constructed pickleball courts, tennis, and bocce ball. The club also features a fitness center, library, community garden plots, hiking and walking trails, an equestrian center, a post office, and no less than four swimming pools and community centers.

Want to learn more about this opportunity for you and your family? Please contact us today!