If you are a buyer in the Sacramento, El Dorado, and Placer counties, you are currently participating in a Seller’s Market. According to historical definitions, which may not hold any more, when inventory is selling quickly, buyers are in competition and sellers therefore have more leverage.
Risk and Leverage are key forces to manage in your strategy. This strategy must begin with your mindset. But your starting positions for each (Risk, Leverage) go on your purchase offer. That is how a seller picks winners. (But your and your agent’s behavior can also make or break your chances. “Behavior” is a discussion that only my clients get to have with me.)
Risk and Leverage are tangible elements in home sales. And they usually move in the same direction when a buyer or seller makes a decision. For example, when a buyer decides to waive their appraisal contingency to increase the allure of their offer, both their Risk and their Leverage increases. And if the buyer refuses to heed the recommendations of their inspector, it will increase their Risk (of subsequent expense) and, at worst, could have no effect on their Leverage.
After many years of analyzing, presenting, and advising my sellers in the acceptance of an offer, knowing some of these factors will change in time and must change to reflect the market
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|Jay Emerson, Broker
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