Friday was a great day for my buyers - their purchase of 1 Lilly Lane in San Carlos, CA recorded. They now have the keys, and are busy this weekend starting the move-in process and planning their future.
Buying a home in San Francisco, San Mateo County and the Silicon Valley can be a daunting prospect for buyers today. There's not much inventory (although that is slowly improving) and many well-qualified buyers. To make matters worse, many of the buyers are all-cash buyers, which makes it difficult to compete for folks obtaining a loan. Almost every home receives multiple offers.
Sometimes a shift in focus is needed:
- Do you really need 3 bedrooms, or would 2 bedrooms plus office space work?
- Must you really have the absolute top school district when you have no children?
- Is a big yard essential?
- Would a townhouse work for you instead of a single-family home?
- Are you willing to have a house with an older kitchen that you could remodel a few years down the road?
When buyers can differentiate between their "must-haves" and "would-be-nice-to-haves" success follows -- and so do the house keys.