EAST BAY REAL ESTATE MARKET IS BOOMING! Here’s what you NEED to know.

BAY AREA REAL ESTATE MARKET IS BOOMING! Here's what you NEED to know.

The real estate market is booming, there hasn’t been a better time in the history of real estate to sell your home. Right now there is extremely limited inventory. There aren’t enough houses on the market for the amount of buyers that we have, that want homes.  Hi my name is Tanja Odzak-Goppold with Keller Williams and I’m a top producing Realtor here in Oakland, Berkeley, and the East Bay.

The absorption rate is the rate at which houses are sold… Anything 33% or higher is a sellers market and in Oakland, we are at 89%, with a 1.1 month supply of inventory. which is a sign of a market hugely in favor of sellers.  In Berkeley, it’s the same thing…  an 84% absorbtion rate and only a 1.2 month supply of inventory.  .  .  this is all SUPER low.

What that means is that we are in a sellers market, homes only stay on the market as long as they do because our custom is to set an OFFER DATE and not take offers “as they come”. 

With that being said, seller’s have all of the control, have the ability to choose the cream of the crop with regard to terms and conditions. They can be very selective when choosing which offer to take. 

And remember, don’t be afraid to counter anything that you want that will make the transition, terms, and experience meet all of your expectations, you’re in the position to do so. 

Here are few things to think about.  Timeframes, choose the best timeframe for close of escrow that works for you.  Also, Shorten up contingency dates for inspections, loan, disclosures and appraisal, or even better take an offer that has NO contingencies at all. You could sell the home “As Is”, which means that if the buyer asked for any repairs or found something wrong with the home you wouldn’t be obligated to fix it. Also, there are things that are typically customary for what a buyer would be responsible for and what a seller would be responsible for.  For example  many cities in the East Bay require Sewer Lateral Compliance, which requires property owners to obtain certification, but in this market you could counter that out and ask the buyer to assume responsilibility and pay for it.  There’s quite a few more things to consider and negotiate on your behalf, but I don’t want to keep you for too long, so if you’d like to hear more, you can click the LEARN MORE button to see all my videos this month for information and tips when selling..  and if you’re thinking about selling, give me a call, I’d be happy to help! 

You can also click the HERE button right now to watch them all. Don’t forget if you’re thinking of selling your home here in the Oakland / Berkeley area, I’m your specialist. Thanks for watching and reach out to me for anything big or small as I’m always here to help, PUTTING PEOPLE BEFORE PROFIT.

Click the HERE to get your free SELLER’S “Guide to Selling” in Oakland, Berkeley, and the East Bay.

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