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Major changes? No problem! On the first day of the new rules, I was able to successfully negotiate for my clients and get an offer accepted for a home in Vacaville, CA. Five rounds of showings over five weekends. We were able to throw out Dixon and Fairfield early on in our search, solely focusing on Vacaville after round three. There were a couple neighborhoods we identified as well to focus our search further. Once we identified some stellar neighborhoods, I pulled some lists to send buyer letters to homes that were off market just in case none of the current active homes worked out! My clients were already pre-approved and ready to move when the right house came along. We discussed this last Sunday the new changes being implemented, and they were fully on board. My brokerage and I have been preparing for this week for over three months now. So far so good, I'd say. I do expect a lot of turbulence over the next six months as the changes set in and reverberate through the system. How do you combat that? You do so with preparation, team support, competence and COMMUNICATION. Cheers to my clients, and we look forward to a smooth transaction.
Rates ticked up towards the end of last week, but as of this writing are resuming their descent lower. We have CPI news early Wednesday morning. We really want to see a soft print in this inflation data to justify the projected Fed rate cuts in September.
In the housing market update below, we see a very small increase in active homes (seasonality). We also see more activity in home buying with pending and closed sales increasing. I expect to see more of that if rates can continue their descent. That's why it was really important for me to get my clients searching in Vacaville something soon. House shopping is hard enough, house shopping with lots of competition is even harder.
See you next week!
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