1.      Selection, selection, selection.  Regardless of the price range a buyer desires,
there are plenty of houses from which to choose. Just a few years ago the resale
inventory dropped incredibly low – and there wasn't much to choose from.
A buyer was forced to make compromises if they were going to locate the home of
their dreams. There is a great selection of attached homes, condos, and townhouses.
You can find large lots, small lots, and a lot that will accommodate your boat or RV.
 There are lots of options in this market.

2.      Few Bidding Wars.  In 2005 we had one client that made an offer on ten homes.
They lost the first nine to the 'feeding frenzy' that existed. Other buyers bid the
properties up substantially from the original listing price. There were escalation
clauses where buyers authorized their agents to outbid other offers by thousands of
dollars. There is no competitive bidding in this buyer's market.

3.      You can make an offer.  A few years ago when you made an offer, the only
question was how high above the list price could the buyer reach in hopes of being the
best offer on the table. Today the sell price list vs. price ration in some towns is 
about 96%. A seller will not be insulted if you 'make them an offer. 

4.      Patience is tolerated.  In the hot seller's market that existed everything
was rushed. Find a house before other buyers did. Hurry up and make the offer. 
Today a buyer can take their time. Look at several homes and think about
your decision, then make your offer.

5.      Due diligence is welcomed.  In this market a buyer is encouraged to obtain
a home inspection, termite inspection, and appraisal. In 2005 many buyers waived
these contingencies in order gain an advantage with multiple offers.

6.      There are plenty of specs.  In the not too distant past buyer had to 'play games'
if they wanted a brand new home. We hear there were drawings and waiting lists
in order to obtain new construction. Some buyers slept in their cars in order to get to
the head of the lines.   Today builders have thousands of specs ready for immediate
occupancy.

7.      Repair requests are welcomed.  After a buyer completes a home inspection,
they are allowed to submit a repair request to the seller. In the past a seller might
insist the home was sold 'as is'. Many times, there were back-up buyers waiting for a
primary buyer to upset the seller whose home was increasing in value almost daily.

8.      Fewer investors to compete with.   It is estimated that one third of all sales in
2005 were to investors. These non-owner occupied buyer caused the market to inflate
and affordability to decline. Mortgage fraud became commonplace. It's a great time to
buy without having to compete with hundreds of prospective landlords.

9.      Location, location, location.  California's Central Valley is full of charming towns
well-located near transportation and other amenities.  Considering buying a home or
investment property in Manteca, Lathrop, Stockton, Lodi, Woodbridge?  You name it;
there will be a home For Sale today in the town of your choice. 

10.     Better financing today.   So-called "NINJA" Loans (No Income No Job No
Assets) are out.  So are "Toxic ARMs" - the  "Wink, 'wink, nod," zero down, no doc,
adjustable, sub-prime loans that got a lot of people in over their heads.  Better fixed
rate conventional loans, FHA financing, government first time home buyer and down
payment assistance programs are available, VA Loans for Veterans, special loans for
teachers and police officers provide excellent buying opportunities.  

11.    Buyers in California usually shop commission-free.

12.   Shelter.  You will always need shelter, whether you rent or own a place of your
own. Investing in a home of you own provides shelter in more ways than one:  your
house not only provides a roof over your head and cozy place to sleep, it provides
additional financial and tax-related advantages.  And other people will always need
shelter, too, so you have the option of renting to produce an income stream for
yourself.  

 What an incredible time to buy real estate!