Home Buying in Lincoln>Question Details

Kimberly Ell…, Real Estate Pro in Roseville, CA

Concessions anymore?

Asked by Kimberly Ellis, Roseville, CA Thu Feb 28, 2013

Recently returning from maternity leave what if any concessions are being written for the buyer? I see the low inventory, buyer letters being written, bidding up and lots of competition that being said what are you seeing in your market?

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3
If your buyer wants "concessions" take them to new home builders.

other than that, Unless a used house seller specifically lists a particular concession in the write up, you don't have much chance of winning against ten other bidders while asking for your buyers favorite concessions
0 votes Thank Flag Link Tue Mar 5, 2013
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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Hope Mom and Baby are doing well.

Regarding concessions- Not really happening right now. Normal inventory is a 4-6 month supply and right now current inventory is a 1.2 month supply so we have shifted to an extreme sellers market. Most homes are going for asking price and many above some as high as 10% over list price. So now more than ever it is key to get with an experienced agent who knows the market, either has a great network of agents they know or are in a large office that has lots of other agents that they can network with.

Reach out if I can be a resource or want to hear about any upcoming listings I have that are coming up.

Rob Wolf
Keller Williams Realty
916-316-7400
robwolf@kw.com
0 votes Thank Flag Link Thu Feb 28, 2013
Welcome back Kimberly. It is my observation that concessions are a thing of the past for now. The tight inventory also brings out more unpleasant behavior (e.g., agents not putting the key back in the lockbox, properties not made available for showing allegedly at seller's request, agents not returning calls or answering e-mails... I think you get the picture).
0 votes Thank Flag Link Thu Feb 28, 2013
Ute Ferdig -…, Real Estate Pro in New Castle, DE
MVP'08
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