Our beautiful city Fremont of Bay area is located in the best part of California, where home prices are driven by school districts and their API scores. In such areas the inventory of home for sale always remains low, because the properties don't stay in the market for long time. Most of the homes in Mission San Jose area of Fremont are sold with multiple offers in the very first 15 days.
Many buyers miss the opportunity of getting the homes that they like. At first they are not ready to pay high dollars because they yet don't have experience of keeping loosing the homes they like. By the time they realize the truth about the market place, it's too late, and then there are no more homes for sale that fits in their box of criteria.
People are busy with families and friends celebrating Holidays and they don't like to be disturbed., so they don't list homes around Thanksgiving, Christmas and New Year's time. Like many agents have explained low inventory in these days due to holidays. Houses over 1.2 mil or any price range homes inventory will increase right after the first couple of weeks of Jan 2014. This my experience in general over the period of 20 years watching the local market place of Fremont, CA.
But like Ali Qureshi suggested, get ready I would say be absolutely ready to make an offer once you find a home that meets 75-80% of your criteria. That includes finding your buyer's agent, Lender, your proof of funds, all decision maker available to target that goal of getting home in the time frame you want. Don't assume that you can go the listing agent and ask him/her to write an offer for you and you will win that bidding war. Those listing agents have their own buyers lined up with who they have established report and they will work with those buyers first.
An experienced, knowledgeable, skilled and passionate Real Estate professional can make it happen for you! Find and keep in touch with that agent who can help you achieve your home buying dream, which is single most largest investment we all make!
Good on your search!
Inventory has been quite low in the Mission area since the past few months. Among other reasons, mission district is very popular for the award winning school district. Buyers who are willing to pay up to an average price of $850,000 for Ardenwood or Warm Springs are considering mission in the search as well. As a result of this high demand, Inventory has been quite low in Mission.
Most sellers of established neighborhoods wait until March or April to list their properties. Looking at where the market is, I think there will be good influx of listings in the during the first half of the next year. Generally, speaking across all markets, Inventory is usually limited during this time of the year. That said, depending on what your needs are, I would recommend to be fully prepared to jump in the event a property comes in the market that matches your criteria.
Let's transition forward to a related topic underling your primary questions; that being, your actual property search!
The link below will take you to a series of activity graphs over the last 36 months (94539, Detached SFR, $1.2M+, 2,500SF+).
When I review these charts I see it's quite clear there's no off-time involved when searching in the Mission area (and other areas with healthy demand). Keep looking every day, but be smart about how you do this: have your RealtorÂ® create a Regional automated MLS Search Agent (some agents list property outside of their home MLS that might otherwise be missed) that emails you properties automatically (based on your search criteria) when made available for sale. Do not try to manually do this yourself via third-party syndicators (Trulia, Zillow, etc). If you want to go it alone please read the post below first and then decide what's best for you!
MLS Data Accuracy â€“ Where to search if youâ€™re â€œwithout RealtorÂ®â€
Here's another reason you should stay diligent in your effort to find your new home:
"The Top 4 Challenges Buyers & Sellers will face in 2014!" http://tinyurl.com/lg2n2v5
Real Estate is a "contact sport" and you have to be in the game to play! Continue to actively canvass your potential opportunities.
Currently there are 5 homes in the Mission area and 5 in the Warm Springs area (Zip code 94539) on the market under $1.2 Mil. Have you seen these homes? Did you not like any of them? Inventory usually increases after the first week of January, but if there is any home you like that is currently on the market, you should go for it since there is not too much competition with other buyers in November and December.
Just like you, many buyers may be waiting for more inventory and that brings multiple offers as well.
I would like to suggest that you get pre-approved, get a good Realtor who is aggressive and knows the market and keep looking for the right home that best meets your needs.
Keep in mind that it is very hard to find that perfect home. But if it has the right floor plan in a good location, has room for expansion with the yard size that you are satisfied with, the rest can be updated or modified.
Hope this helps.
As the others have mentioned, inventory will increase in the spring, however, I suggest start your housing search in Feb. (or even the second week in Jan.), as other buyers will start their search in the spring, you will want to be one step ahead of them.
Yes to both your questions :)
I have a new listing on the market this evening. It is in the Mission Area of Fremont. Wonderful condition; Section 1 clearance; over 2000 square feet; 3 bedroom; 2.5 bathrooms; hardwood floors; updated bathrooms. If you would like information, please contact me at the email address below.
The other responses are generally true...many sellers either remove their home from the market, or delay putting it on at all until we are into the next year. But there are always some who need to sell and some who need to move. So, keep looking, you just may find the right home!
You could wait for spring and there may be a few more listings, but you will have more competition then at this time of year when people tend to wait for spring to continue looking. Dawn