Summer is here!

Southern California seems to have endless summers....The warm breezes, sunny skies and laid back attitude are all a part of life here. Yet, when school is out, and summer "officially" begins, something happens to home sellers & buyers...something almost like a frenzy. A seller may have thought of selling and played around with the idea, looked over prices, home staging...but once Memorial Day has come and gone, there is a new sense of urgency! Homes are listed, buyers are pounding the pavement from open house to open house and contracts are written in a quicker pace. We are now in the midst of this cycle. There are a few things to be careful about if you are buyer - you may be caught up in the harsh reality that the market has changed and your choices have dwindled while prices & competition have climbed. Here are a few things to look out for: 1. More sellers are asking you waive your appraisal contingency or pay the difference in cash. IF you choose that option and your offer is accepted, make sure you and your agent are continuing to track actual sales prices up to the point of no return on your contract. Do not blindly waive your appraisal. 2. More sellers are asking you waive an inspection. Unless you plan to completely remodel the home, I would not advise this of any buyer. Even if the house is "as-is" with "no repairs", an inspection, for your own peace of mind, is always a good idea. 3. If you like a home, do not wait to make an offer. Homes are gone days after they are listed. There are many eager buyers hoping to catch the low interest rates and the great, standard sales in today's market. The early bird truly gets the worm. 4. ALWAYS make sure your have pre-qualified with a reputable, direct lender. I do not usually recommend a large bank because the customer service always seems to be lacking. Being able to close on time is of the utmost importance always, but especially in today's market. 5. Be patient....Buying a home is a huge process, too often simplified by 30 minute television programs. Everyone that is working on your behalf wants the best possible outcome. Tune in for my sellers tips on the next post!