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We Buy Houses – Watch Out
Every week there is a text message saying something like: “We buy houses. All cash, no contingencies, close in 10 days or less, up to $1.5M!” These are investors looking for deals. As a real estate agent this sounds great. These are ready, willing and able buyers. So what’s the catch? “We’re looking for OFF market properties.” That means they don’t want houses that are listed. One investor once told me, Ernest, “I don’t want a deal. I want a steal.”
I tell them that I have a fiduciary duty to the sellers and I put the houses on the MLS. In all of my years of selling houses, I have never sold to an investor. When I tell them that I can get them good deals on properties that ARE listed, they immediately say NO. We want OFF market houses. Yeah, they want to low ball the owner and get the house for next to nothing. These people are weasels looking to rip off the homeowner.
Are you experiencing difficulties with your mortgage payments? Are you thinking of talking to the “We Buy Houses” people? Don’t! Call me today instead. We can sell your house as-is. Without repairs. With tenants. And we’ll look after your best interests.
667 Mandana Blvd. Oakland CA 94610 – House For Sale
3 bed, 3 bat, 2060 SF, lot 5000 SF , built 1936
3520 Harrison St. Oakland CA 94611 – House For Sale
3 bed, 1.5 bath, 1708 SF, lot 3790 SF, built 1895
2020 Home Buyer Trends (NAR)
According to the Census Bureau’s Housing Vacancy Survey (HVS), the USA home ownership rate reached 65.3% in the 1st quarter of 2020 vs 64.2% in 2019. It increased! Go figure!
First-time buyers made up 33% of all home buyers, the same as last year. Fifty two percent of buyers 30 to 39 years and 88% of buyers 29 years and younger were first time home buyers. Following 23% of buyer 40 to 54 years were also first time home buyers.
At 25%, buyers 30 to 39 continue to be the largest generational group of buyers with a median age of 34, followed by buyers 40 to 54 and 23% awith a median age of 47.
Recent buyers were categorized as following: married couples = 61%, unmarried couples = 13$ single females = 17%, and single male = 9%
I’d be curious to see how things shake out in 2nd quarter of 2020 after COVID-19. Some sellers got jittery as did some buyers. My guess is that sales will be down compared to same quarter last year. We shall see.
Source: National Association of Realtors. For the complete report go to: Home Buyer and Seller Generational Trends
Sequoyah Market Update – Oakland CA 94605
Beautiful, large home in the Sequoyah hills of Oakland CA.
As the 3rd Quarter (July, august, September) approached there was the expected seasonal slowdown in sales (23% fewer) and a dip in prices (about 10%, althought there are several variables such as price, home size, condition, desirability, and mortgage rates). Most analysts are seeing a peak in prices until the Spring of 2020 and beyond that some softnening in prices is expected. The gains that have been seen in the past year could not continue unabated!
If you plan to sell this year, or have to sell now, let’s talk sooner rather than later. I have a record of getting the best price for my sellers in ANY market.
SEQUOYAH HOME SALES – 3rd Quarter
| ADDRESS | BED | BATH | HOME SF | LOT SF | GAR SP | DAYS | SOLD PRICE |
| 8160 Phaeton Dr. | 5 | 2 | 2,076 | 8,260 | 2 | 12 | $1,250,000 |
| 40 Donna Way | 3 | 2 | 1,896 | 14,616 | 2 | 12 | $1,240,000 |
| 10511 Pebble Beach Dr. | 4 | 2+ | 2,237 | 9,831 | 2 | 14 | $1,200,000 |
| 4030 Sequoyah Rd. | 3 | 1++ | 2,029 | 26,219 | 2 | 26 | $1,060,000 |
| 360 Elysian Fields | 4 | 4 | 2,796 | 12,762 | 2 | 5 | $1,052,000 |
| 3965 Turnley Ave. | 3 | 3 | 2,080 | 5,300 | 1 | 14 | $985,000 |
| 8184 Hansom Dr. | 4 | 2 | 1,809 | 9,660 | 2 | 11 | $895,000 |
| 9775 Burgos Ave. | 2 | 1 | 1,371 | 6,042 | 2 | 0 | $750,000 |
| 3665 Calafia Ave. | 2 | 1 | 1,919 | 6,600 | 2 | 5 | $742,000 |
| 4117 Seacor Court | 3 | 1 | 1,104 | 5,925 | 2 | 27 | $635,000 |
| AVERAGE | 3 | 2 | 1,932 | 10,522 | 2 | 13 | $980,000 |
I live and work in Sequoyah, I love our neighborhood and I care about our community and property values. Give me a call to talk about what’s happening in our market.
