Paul Winders

I have a bit of time to read , and am setting reading time as a goal for myself. I am looking for suggestions on anything to help undestand the market and the economy we are in.... thanks

The market is frustrating at the moment. With just over 200 homes for asle in Vallejo (almost half of which are short sales) and less than 90 for sale in Benicia (of which 20 are short sales.) there is not much choice for buyers. Offers are comming in way over value, homes not appraising and then selling for less than highest offer, creating 60-90 days escrows.......This has been a dificult environment to work in.

We are in great market now, and almost every property cash flows well and is selling for about half of what it was 3 years ago. Buyers keep wanting to pay 30% less because a few wise folks did by property another 25% cheaper last year. They want the same price their friend Larry paid and do not realize that the market has began to recover and these homes are at great prices that they will probably NEVER see again. Buyers get off the fence. This is a golden opportunity and will not last foreever.

I am a broker in Benicia CA an we are seeing 10-20 offers on homes becuase they are such great buys and still so cheap. Buyers keep lowballing them, thinking that they can "steal" a 3 bedroom 2 bath home ( as one could do 9 months ago). They are going to loose the tax credit if they do not get an offer accepted in the next few weeks as the credit expires Nov 30. This credit is more than the down payment they will make on an FHA loan. The payment will be less than rent for most of them. I need suggestins to wake these buyers up...

The market is not as slow as some people make it appear. We closed over 70 transactions in 2008, and are amost at that poing now in Aug of 2009. We all have to learn to adapt. Prices are begining to level and rise in some areas.There is lots of business out there. There are multible offers on most listings and investors are competing with first time buyers. It is imprtant to make your offer stand out and get accepted, and still protect your buyer. Well priced lisings are getting imediate attention. and overpriced listings are for the morst part getting ignored. Soon we will see more and more normal sellers with equity selling homes.....