You can survive the 2021 real estate season!
Survival is possible
It may not seem like it, but while sellers are in the drivers seat, todays buyers can survive and even thrive in todays real estate reality.
Some Ground Truth
Over the last month, I have had some interesting experiences viewing and making offers in San Jose, Willow Glen and Japan Town. What was most interesting was the competition between buyers for these properties that are in the most desirable locations. What was also interesting was the opportunities that presented themselves once you began to shop for real estate just outside of these super high demand neighborhoods.
Location, Location, Location
In these higher demand areas, you are going to find fierce competition. However, that competition seems to soften as you step away from those markets. We are not talking about embracing terrible homes in terrible locations. These homes are every bit as lovely as the homes in the more in demand locations – they just don’t have some of the mystique that comes with owning a home in those more well known and written about areas.
The right home is out there
So, if you are a buyer trying to get into a home, it can be done. In fact, it can be done without having to offer hundreds of thousands of dollars over the asking price. Even some of the perfectly acceptable homes we have looked at over the last month have now had asking price drops and appear poised to not only accept an asking price offer, but potentially something under asking price. Again, the trade off is on the location side, but not to the point where you are making an unwise purchase.
Check Out The Last Show!
In this weeks show we are looking at a few different bits of economic news that could push our real estate market one way or another. Not a lot of certainty in todays show, but I will offer what I think are prudent actions for buyers, sellers and investors to prepare for the possible eventualities