The weather is finally starting to cool down and things will be slowing down some as we get closer to the holidays. The big issue right now is buyers wanting to take advantage of the Proposition 90 which expires November 7. We have many Bay Area buyers trying to take advantage of this Proposition which allows them to carry their tax base with them - IF they are 55 and older and buy a house less expensive than the one they are selling. It works well for people who have been living in their home for decades and are looking to retire to our wonderful County!
We have had our El Dorado County Single Family residences inventory increase from 430 residential listings in January to 779 in July. The homes coming on the market has slowed a little and the number of solds last month was lower than June's 309, but the second best month since last July with 289 closed sales. Homes do seem to be staying on the market a bit longer than they used to - good for buyers, not as good for the Sellers that earlier this year saw many homes selling within a week of being on the market. We are seeing more price reductions also. But, as they say - all you need is one buyer! If your home is in a great location and wonderful condition you may have more than one buyer interested in it.
I am hoping the trend of having a lot of houses falling out of escrow does not continue, but if you are a Buyer - WRITE A BACKUP OFFER if the house you love is already in escrow. You may still be able to buy it. If you are a Seller - TAKE A BACKUP OFFER. My most recent Seller was able to easily move their backup offer into first place when the first buyer was unable to move forward.
I am happy to be in my 16th year of selling Real Estate, 31st year of living in El Dorado County and 35th year of being married. Let me know if I can assist you with buying or selling - or both!
Bette Bock Humenick
"Bette to the Rescue"