Low Housing Inventory and Multiple Offers are Frustrating Many Homebuyers

Our team has written about 20 offers this week for the home buyers we are working with. These offers are for homes priced from $500k to $1 million, The homes for sale being looked at are in Walnut Creek, San Ramon, Dublin, Pleasanton and Livermore, California.

The available housing inventory in many areas has been picked through for many months and most of what is left seems to not suit the buyers that are shopping. Buyers are becoming frustrated with submitting offers on multiple homes only to find multiple offers being submitted and theirs not making the cut.

Is this an indication that we are reaching the bottom of the market? It surely indicates that buyers can no longer expect to low-ball offers to get much traction with well maintained homes.

Foreclosures coming on the market that are in need of significant repairs still hold opportunity for a large segment of buyers. But, for the family that needs a home in move-in condition, the market can be challenging, especially for relocating buyers that need to make a quick purchase.

Contact Craig for more info on local real estate trends – 925-984-4910

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