Posted by: Meena Gujral | July 6, 2009

My agent says homes are getting multiple offers in Mission San Jose, Fremont, Ca. Is that true?

House for sale pic

I truly believe that if the agent is saying they have multiple offers, then they do have multiple offers in Mission San Jose. I am working with several buyers at this time in all areas of Fremont. Some are concentrating on short sales and REO’s whereas others want only regular sales. In both categories I am having to deal with multiple offer situations. Believe me, the market is changing, but the buyers are still not believing that. They are listening to the media which is behind in its data collection, plus they are talking about the country not specific to the Bay area. The inventory is rapidly decreasing since the banks are not releasing too many foreclosure properties, therefore everything on the market that is priced right is selling with multiple offers. Things may change if too many foreclosure properties come on the market again but as of right now, it is once again a multiple offers situation.

You will find that the areas where the schools are very good, for example Gomes Elementary, Parkmont, Chadbourne school (all Mission Schools), Weibel, Forest Park, Ardenwood Elementary are selling over asking price with multiple offers. First time home buyers are trying to get into the market to take advantage of the first time home buyer $8,000 tax credit since it will end on November 30, 2009. And of course there is not too much inventory left since the banks are not releasing their foreclosure properties, the demand has peaked for all the homes that are currently on the market and are priced right.

When deciding how much to offer, you need a good buyer’s agent who will do the comparables for that neighborhood in Fremont or anywhere in the East Bay and justify what range to offer in. Keep in mind in a multiple offer situation you need to put your best foot forward since you may not get a second chance. The seller’s agent may give multiple counter offers or they may run with the best offer in hand. Whatever the case, get yourself an agent who will look out for your best interest .

If I can help answer any questions, you can reach me at 510-279-9580. You can also go to my website at http://www.helpusellachievers.com

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Responses

  1. Good information! This was incredibly helpful!


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