Hi, I would like to buy a house in Natomas area, but would like to know if it's a good time now or wait a few months. Also, I would like to talk a real estate agent who specializes in that area and have sold homes in that area for the last few months.
The Natomas marketplace is intense! I recommend you get started now and be tenacious. There aren't that many homes for sale and you may have to make a fair number of offers before you land one. It can be done but you have to know what you want and be focused. Happy home hunting!
Hello Michael, Start your search the day after Thanksgiving. There will be fewer buyers to compete with from the end of Nov. to the first of the year. Prices have been going up the last six months because of the inventory reduction. It's simple supply and demand economics.
Hi, I also sell Natomas and the homes are selling like hotcakes. Most have multiple offers. Pay attention if it looks to good for the asking price you will have 10 to 15 offer on the home. My hardest job is not selling real estate, it is convincing the buyer that the homes are truly selling for over the asking price. If you are waiting for the bottom of the market you may miss it.
I sell in Natomas and can tell you that REOs are flying into inventory. More than 400 homes sold over the past six months. In the $225,000 to $300,000 price range, 112 sold since June. Some are receiving multiple offers. I know everybody says that NOW is the time to buy, but NOW really IS the time to buy. FHA rates are at 6.25% and conventional at 6.375%. I put a deal on Wadsworth into escrow for $270,000, a 5 bedroom, just last week, and it had multiple offers. I'm taking an investor out on Sunday who is hell bent on buying at least three homes in Natomas, and of the 16 REOS I sent him yesterday, 3 went pending today. It's a hot, hot market.
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