Currently we are in a market of very low supply, high demand and escalating prices. Click here to see the market trends for Stockton: http://rocky.prucalifornia.com/Stockton_Real_Estate_Activity
As a result, you will experience competition on every desirable home. However, there are still ways contingencies can work. It really depends on your current situation and before solutions can be provided, like every agent would, we have to understand your situation.
Credit to you for not giving up and taking "no" for an answer. The fact of the matter is, where there is a will there is a way and it can get done if the offer is structured correctly.
Have a super day!
Rocky G.H. Hawrysz
Prudential California Realty
(209) 444-6610 Direct
(209) 433-2000 Fax
License No. 01468373
Ironic that the low supply is creating a high demand in an area that's so depressed! I expect then that the prices (while depressed) are still slightly artificially inflated due to this??
FWIW - We're Californians that only just moved to WV from CA 2 years ago - moving back is easy.
We would be lshopping in the $500K range, near the country clubs.
We need to figure out some alternative options for you. Give me a call to put together a game plan. What is the market like where you live.
Do you think you have equity and how much are you anticipating putting towards the new purchase? Let's go over the numbers. You can buy here and even rent out your home in WV until it sells or ? Let'g get you approved to buy here for a start. Here is a brochure of the program which is only half percent down payment and can also contribute most closing costs so you literally only need half percent down. You only need a minimum 580 fico score to qualify FHA Access half percent down.
CHF Access half percent down brochure, pdf
Sheryl Arndt, standard needs list checked
CHF Access income limits http://tinyurl.com/8lzf8he
Sheryl Arndt, Broker â€“ Loan Officer
If you are not familiar with the Stockton area, I would advise you to rent for a few months anyway. That way you could take your time to explore the various neighborhoods to be certain you will be happy in your new home. The Stockton market will not recover in the near future and home prices will remain stagnant. If you purchase a home and later find you don't care for the neighborhood you most probably would have to sell at a loss. Remember, it's much easier to get out of a six-month lease than a 30-year mortgage!
I would guess that the CONTINGENCIES that the Realtor is talking about are things like having to sell your other home first, and making your purchase CONTINGENT upon selling it.
When you talk about the LOAN CONTINGENCY, APPRAISAL CONTINGENCY, and INSPECTION CONTINGENCIES; I would never want my Client to make an OFFER without them: The Buyer must be protected, and these contingencies are critical.
If the "agent" is including these in his arguement; I would suggest working with another Agent because he is not representing YOUR best interests.
If you need to sell the other house first; you should consider that you will have a period where you rent and live some place for a short time: It means moving twice, and is a pain in the behind, but it is very unlikely that you will be able to time the two sales perfectly. Fact of life!
Good luck and may God bless