Castro Valley, CA (PRWEB) April 07, 2015
Housing Demand Leads to Multiple Offers
“In light of the Freddie Mac report “March 2015 U.S. Economic and Housing Market Outlook” predicting that 2015 will be the best real estate market in eight years,(1) home sellers would be wise to prepare for multiple bids on their properties and develop strategies with a real estate expert in order to negotiate the highest possible price for their homes,” states Murline Monat, real estate agent specializing in Castro Valley Neighborhoods, a community in the East Bay Hills of San Francisco.
“With more buyers entering the market because of favorable interest rates, new low down payment Freddie Mac loans, and reduced mortgage insurance premiums, home owners receiving multiple bids on their properties is already common-place,” said Murline. “There are specific strategies for making the most of the multiple bids scenario, and home owners are strongly cautioned to seek the expertise of a real estate professional, and not try and handle the negotiations themselves,” Murline goes on to say.
Multiple Offer Strategies
According to Murline, multiple offers allow the market to determine the highest and best price as well as acceptable terms for a home. Multiple offers also exhibit demand. This is why selling in this market is a terrific and timely opportunity for sellers.
Once offers are received, the agent and seller can review and compare terms from each buyer. The seller now has several options. They may accept one and reject all others, counter one or more, or counter all. Price and terms may be same or different for each prospective buyer.
The agent and seller will review and compare offers based on the following: price, percent of deposit, contingency release dates, prior review of seller inspections and reports, conversations about the buyer with both the selling agent and lender. Additionally, the agent and seller will discuss buyer’s financial ability and readiness as well as a buyer’s desire to own the home.
It is up to the seller to decide which offer to accept. The seller may not accept the just the highest price, rather the seller may select an offer with a suitable price, appropriate terms, buyer's financial ability and believe it or not, a deciding factor may be about the buyer’s appeal to the seller.
Many Homeowners Reluctant to Sell
With the market so favorable right now, why are so many homeowners not putting their homes up for sale? “Many factors come into play,” said Murline. She goes on to say, “while many homeowners have recouped their lost equity and then some, some areas, such as Contra Costa County, are just now seeing full recovery of their lost equity. Homeowners have many options to choose from; they can cash out of their homes in California and move to lower cost of living locales, as some Baby Boomers are choosing to do; they can refinance and remodel, or take cash out of their homes and sell later; or they can sell their current home and buy a larger home or a home in a more desirable area, which familes of young children are known to do.”
A long-time Bay Area resident, Murline brings a wealth of knowledge and experience to her realty career – including an M.S in Industrial Psychology, building her own home, and group facilitation. Her background makes her an excellent champion for her clients. By ensuring her clients are appropriately informed throughout the purchasing or selling process, coordinating all the parties involved, and negotiating the best deal, Murline’s reputation in the community and realty industry is impeccable.
Before becoming a realtor in 2009, Murline Monat spent her time analyzing sales trends for both large corporations and small businesses. The difference between retail sales trends and real estate trends are minimal and she is able to support her clients in one of the most important lifestyle choices they will make. These decisions “bring great comfort and satisfaction to individuals and to families. I love being a part of that process.”
A Bay Area resident since the age of 5, Murline and her husband made Castro Valley their home because of its central location for both of their careers at the time. While a practical choice, the decision to live in Castro Valley has always been a happy one.