An Appraiser’s Open Letter to Home Buyers

January 31, 2020

 

I think buyers have been conditioned to ‘consider the source’ and not always in a good way. As a Realtor, people look to me for advice and my opinion on the market. If I say something positive about it, I know that in the back of their minds, many are thinking, ‘Yeah, but he gets only makes a living if people buy, so of course he’s going to say ‘things are great!’

I suppose that industry reputation is deserved. After all it is true that we only get paid when we sell something.

Still, I try to give people the benefit of my knowledge and experience, and I do it honestly.

I was, therefore thrilled to see the article I’m about to present. It was written by Ryan Lundquist, local appraiser who is a sought after speaker and expert on the housing market and home values.

He is saying some of the things I often do, and some I wish I could.

Don’t take it from me, take it from Ryan:

An open letter to home buyers

 By 

Dear Buyers,

Can we chat? I’ve been having SO many conversations about buying in today’s market, so I wanted to stir some thoughts and maybe offer some perspective. I hope this will be helpful.

Things to keep in mind about buying a home right now:

Starter home vs dream home: We all want that pristine HGTV flip, but we can’t expect a dream home on a starter budget. In other words, a first home might not have the best upgrades or condition and it probably won’t be found in the best neighborhood either.

Be realistic: Sellers are prone to overprice and that’s their glaring real estate “sin” so to speak, but for buyers I’d say being unrealistic about what you can buy is a big issue. The dream is to pick up a $150,000 brand new modern home in Midtown, but that’s nowhere close to reality. At times it can be sobering to see what you can honestly afford, but if you’re serious about buying it’s best to get up to speed with that. You don’t want to be like Jim Carrey in Dumb & Dumber saying, “So you’re telling me there’s a chance?” No, there’s not a chance to buy that house with your budget.

Find the rest of the article on Ryan’s website, right here: http://sacramentoappraisalblog.com/2020/01/29/an-open-letter-to-buyers/

Ryan Lundquist is a Certified Real Estate Appraiser based in the Sacramento Region

Contact Ryan at 916-595-3735 – LundquistCompany@gmail.com – www.LundquistCompany.com –www.SacramentoAppraisalBlog.com

Steve Heard is a Realtor with EXP Realty, and owner of www.myfolsom.com

Reach Steve at 916 718 9577 – steve@myfolsom.com –

For more information on the housing market, Folsom, or to see Folsom Homes for Sale, got to www.myfolsom.com – www.theheardgroup.com

Filed under: Real Estate


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