As we all know California has one of the top Real Estate markets in the nation, and growing. This unfortunately, has made it tough for first time home buyers to get in the mix. Places like Sacramento, California and some surrounding areas saw a huge increase in property values over the past 4 years. Now, it seems the market is starting to cool off, which means asking prices are coming down.
This is what you call a buyers market. Now, you the buyer, have the upper hand, meaning negotiating power. This is a great time for first time home buyers to jump in.
There are also loan programs that are designed for first time home buyers that need a home with no down payment.
Some seller's will use what is called seller's concessions. This is used as an incentive to attract buyers, for a quick sale. Seller concessions are a great thing. This is when the seller contributes money to the buyer to help with closing costs. Sometimes the buyer can even walk away with money.
