With 17 new listings you’d think we be in full swing of recovery. Not exactly, we are watching and representing buyers where Cash is coming out and being offered on residential real estate. We have about a 50/50 split between the owner occupant that wants to buy with 100% cash and the investor that wants to buy with cash.
Between the two, you may not be able to see any difference between the types of real estate they are buying, but it is a bit different. The investor does not seem to care about school scores and upgrades. They want responses to whole number inquires. What is the name of the city and how many bedrooms and bathrooms does it have? Pools are not good bets for most of our investors. If it has a community pool that is fine, but the private variety costs unnecessary money and liability over the long run.
With those that are going to use cash to buy the home to occupy it themselves, it is a much more complex information exchange. We are their real estate representatives and gather the data they are concerned with. How are the schools? How safe in the neighborhood? How long will it take me to get to my job from this home? When is rush hour? Where am I going to go shopping and how far is the mall from here?
Most owner occupants are also wanting upgrades with the residential real estate they are buying with 100% cash. They want to see things like granite or custom concrete counter-tops Crown molding throughout – complemented with high floor molding They are looking for private pools and spa’s to adorn a backyard fit for entertaining. Most of our Cash “owner occupant” buyers are also wanting to be close to the access point of the freeway to start their commute to work each day.
Who wins in the end when both buyers are touting Cash? It will depend on how hard the buyers worked at the time they were able to meet with the seller personally. Sometimes, this “chance” encounter never takes place. However, if we can work it right we attempt to set up the showing when the seller is around. We tell our buyers to be polite and complementary. Find some common ground, I’ll step back and watch the magic. This method mostly works for the “owner occupant” buyer. I have heard on more than one occasion from the listing agent, “Boy, I don’t know what your buyers did, but my sellers just adored them – they have decided to go with your client”s offer – congratulations…” Those are some of the best words to hear in today’s constrictive market. BTW – this is not the only tactic we use to get our buyers offers accepted – more about that during our face to face meeting 🙂
As a Santa Clarita real estate buyer in today’s market, you don’t have to approach home-buying un-armed. We cover all of these topics in our Real Estate crash course in our offices at REMAX of Santa Clarita Valley. Give us a call or shoot us an email so we can get you in and get you set up so you can be equipped with the armament you need to get the home you want in today’s market.
BTW – if you are about to jump into the real estate market – please check out The Paris911 Team at REMAX of Santa Clarita Valley on Yelp. The reason we like Yelp versus some of the other “service and feedback sites” is their transparency. They also have many fail-safe measures that prohibit spamming and the “loading of good reviews” by the unscrupulous business owner/operator.