Buy a House in Rocklin – Where’s the Inventory?

Buy a House in Rocklin – Where’s the Inventory?

If you’ve been looking to buy a house in Rocklin, you may not be having much luck. That’s because the home inventory in Rocklin is at a low!  This time last year, there was 4.8 months of inventory.  Now there is only 1.8 months.  That’s a 62.5% decrease in the last 12 months.

There is lots of speculation regarding the lack of Rocklin homes for sale. Some think it’s because the banks are holding back foreclosure inventory, trying to make the market more valuable.  Others believe because of very low interest rates, homes are being scooped up as it’s irresistible to not to buy.  Further, Rocklin is a strong community and a very desirable place to live. There is no shortage of buyers looking for a home in Rocklin!

Here is how to score your own house in Rocklin and beat out the competition:

• Work with an experienced Rocklin real estate agent. I can’t emphasize how important this is.  Rocklin real estate agents who sell more than 25 homes per year and have been in business for at least 5 years, have a better sense of the market, how to write attractive offers, and increase the chance of your offer being accepted.

• Get pre-qualified. Get lender referrals and choose a lender you are comfortable with.  They will provide you a pre-qualification letter so you know how much you can afford.  This letter will get submitted with your offer so the seller knows your solid.

• Work Fast. Your real estate agent has helped you figure out what you’re looking for.  So when you see a house you like, act fast!  Remember, you still have your inspection period (usually 17 days) to back out for cold feet.  Usually the first offer submitted as the best chance of being accepted.  Acting quickly shows the seller you know what you want and are confident!

• Don’t be afraid of Rocklin Short Sales. There are agents who spend much of their time trying to steer buyers away from short sales!  Guess what, short sales make up about 50% of Rocklin homes for sale.  Eliminating short sales from your home search is a bad idea as there are more to choose from and they are often discounted.  If you are worried about short sales taking too long, make sure you work with an experienced Rocklin short sale agent.

• Do your own search. Real estate agents will send you new houses for sale but two sets of eyes are better than one.  Searching for Rocklin homes for sale on your own will help you find the perfect house.

Good luck on your Rocklin home search!

Buy a House in Rocklin – Where’s the Inventory?

Posted by Rocklin Real Estate Agent – Allan Sanchez