Sacramento Homeowners, Now is a Great Time to Sell
Updated: Mar 2, 2021
Let me preface this post by stating that I don’t have a crystal ball. I can’t tell you what the Sacramento real estate market will be like 6 months from now. What I can tell you is what’s going on in the Sacramento market right now.
In my years in Sacramento real estate, I have never seen a market more favorable to sellers. We have been in a seller’s market for several years. But it has never been like this.
Inventory of homes for sale in the Sacramento area are at an historic low. Homes that come on the market don’t last long. In the past two weeks, I have put 2 listings on the market. Both went pending within 3 days with multiple offers, all above asking price.
January is usually the quiet season before the busy spring selling season begins. Not this year. The pool of buyers actively looking for a home in Sacramento is big and getting bigger. Will the buying pool increase in February and March like it usually does? I don’t have the answer to that, but my guess is that it will. Without boring you with a bunch of statistics, suffice it to say, if you have been thinking about selling your home, now could be the perfect time.
I know the thought of having people going through your home during this pandemic can be very scary. The Sacramento Association of Realtors and California Association of Realtors have put in safety guidelines that everyone who looks at a home must follow. Masks are worn at all times inside the home. The number of people allowed to view a home at one time is limited to 3, the agent and up to 2 buyers. Hand sanitizer and sanitizing wipes are supplied at each home. Buyers are advised to avoid touching anything and if they do, to use a wipe to clean it. Documents are signed by any agent and client viewing your home that state they are healthy, haven’t been exposed to anyone with Covid-19 in the past 14 days and that they are aware Covid-19 is out here and hold harmless the homeowner if they come down with Covid-19.
If you have been holding off from selling because you feel there are a few things you want to do to the home before you put it on the market, I would advise you to reach out to an agent to see if those things are even necessary. The reason I say that is buyers are so motivated, they are overlooking a lot of cosmetic repairs and updates, just to get into a home. Did I mention that they are also putting in offers over asking price?
As amazing as all of this sounds, you need to find an agent who knows how to navigate the deluge of offers and help you pick the offer that will best work for you. Buyer’s agents are getting very creative as to how to write a winning offer. Some are aggressively making the contingency periods shorter. In some cases, if the buyer is well qualified and has a large enough down payment, they are releasing contingencies all together. Sellers are able to negotiate in ways that make the sale an “as is” sale. Buyers are willing to overlook many flaws that just a few months ago would have ended up on a Request for Repairs that they would have expected to be completed by the seller before they took possession.
If you have questions about your home's value, condition or just want to know more about the safety measures in place, please feel free to reach out. I am always happy to help.