We’re all well aware that the entire nation is experiencing a buyer’s market trend and Lake Nacimiento is no different! There are many great homes in the gated Oak Shores community as well as Heritage Ranch which are both situated on beautiful Lake Nacimiento. Because there is a surplus of homes and not as many buyers; this creates an ideal opportunity for those hoping to purchase a Lake Nacimiento home! If you’re considering beginning your home search in Oak Shores or Heritage Ranch– now is the time!
Here are a few tips, compiled by FrontDoor.com, on how to get the most from the current buyer’s market to ensure you get the best deal possible on your Lake Nacimiento home!
1. Take a Leisurely Look– In a slow market, you don’t have to jump on the first Lake Nacimineto home you like. Look at as many as you can; you’re likely to notice which ones have lingered on the market and therefore might be open to a price reduction.
2. Investigate the Foreclosure Market– The housing market downturn, along with the related collapse of the subprime mortgage market, has caused foreclosures to spike nationwide and especially in California. Foreclosed homes now sit empty and can be had at bargain prices. My team and I at Oak Shores Realty specialize in foreclosed properties, so be sure to check out the foreclosed homes that are available!
3. Ask for Free Upgrades or Repairs– Don’t be shy. Sellers may be willing to make major repairs (like replacing a leaky roof) to secure the sale.
4. Offer 15 % Below the Asking Price– First offers are usually slightly below the seller’s asking price, but in a buyer’s market on Lake Nacimiento, you can test a substantial price cut. Understand, however, that if the price has already been reduced, a deeper cut may not fly. As your Lake Nacimiento Real Estate Agent, I can help you come up with a solid offer.
5. Play the Time Card to Your Advantage– In your offer, stipulate a small time frame for the seller’s response, 24-48 hours, to encourage acceptance, but demand ample time to conduct inspections, get the contract approved by an attorney, and so on.
6. Ask for a Written Warranty– A year of coverage on appliances, structural repairs, and so on can prove extremely valuable for your Oak Shores or Heritage Ranch home.
7. Negotiate Your Closing Date– Maybe a couple months of breathing room would help you. You may need more time to scrape together your down payment, or you’d be better off moving after the kids finish the school year, etc. To seal the deal, a motivated seller may be willing to wait until you’re ready to close on the Lake Nacimiento home.
8. Reject the Counteroffer– A buyer’s market on Lake Nacimiento is a good time to test where the true bottom line is because you’re less likely to lose the sale. If the risk won’t kill you, be firm on your offer and see what happens. (But don’t insult the seller; that benefits no one.) Again, your Lake Nacimiento Real Estate agent can help you determine this.
If you’re ready to begin your search for a home in Oak Shores or Heritage Ranch on Lake Nacimiento; let me know! I have years of experience in the Lake Nacimiento Real Estate market which means I can help you find a home in Oak Shores or Heritage Ranch that fits your needs and lifestyle! Contact me today to get started; I look forward to hearing from you!
Grace Borzini
Your Oak Shores Real Estate Expert
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Oak Shores Realty specializes in Oak Shores at Lake Nacimiento properties. Please contact us today to get more information on Lake Nacimiento lake homes. Oak Shores Realty can also provide you an insiders “Lake Nacimiento Buying Guide” with great information including maps and market information.
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