Buying Real Estate In The Marin Buyer’s Market: The Pace Is Different
The Buyer’s Market in Marin County is creating all kinds of new rules when negotiating a purchase. Well, not really new rules - it’s just been so long that lots of people don’t remember what it is like.
When we purchased our first home in Corte Madera in 1990, we put in an offer 10 % below asking. The Seller countered, $15,000 away from our price. We immediately……did nothing. A month later they asked if we would buy at the original price. We said yes.
The pace these days is different. We’re negotiating on two of our listings right now, and the differences are amazing between now and three years ago. On one, I receieved an offer earlier this week that gave us three days to respond. We submitted a counter, and gave them three days. This is a process that actually started with an initial offer from them a month ago.
And just one year ago, I was in a conference room at 11 pm with a client, and we literally had minutes to submit a counter offer.
The pace is very different now. Sellers and Buyers need to be patient. This is a great market for great negotiators, whether you are buying or selling. Get used to it.
