How long does it take to buy a house here in the Bay Area? | Bay Area Real Estate Tip #28 - a podcast by Spencer Hsu, MBA Tech Realtor
from 2023-12-14T09:44:00.249511
Every Tuesday, I go into detail about a question I frequently get asked. This week, I'm going to discuss how long does it take to buy a house here in the Bay Area?
So I've been getting this question a lot from a lot of my clients and especially first-time home buyers. And they asked me like, how long should I prep? How long should I wait or expect it to take for me to be able to get a house? Let's do our math a little bit backwards.
So typically even if you were able to make an offer today and get it accepted today, you have what they call a close of escrow time, which is the time it takes to go from offer acceptance to actually owning the home itself. Usually that's about 30 days. So if you work backwards, the earliest you can possibly even move in is 30 days from today, if you had your offer accepted today.
Now you also want to take into different variables as well where you may be exploring for a few weeks, a few months. You may unfortunately lose for various different offers given. You're not the only person buying, so account for that buffer. However, at the same time I've helped many clients find a house within one weekend of searching. We would go see several properties on a weekend. They would stack rank what is important to them. What did they like, which ones they like. We also will understand when are offers due for each of the appropriate ones.
And then you can create a game plan with myself based off of all of those different variables. So what I tell all of my buyers that are actively looking today is on one end you have to be patient because if you're especially looking for a single family house, it's very competitive these days. So you have to be patient because you just don't know when it'll come up. They move very quickly. At the same time, you have to be ready. The last thing you want to do, and the biggest thing that most people regret is not being prepared, number one. Or thinking that something better will come down the road. Because the worst thing you can have is going through the journey and just keep thinking about, "Oh, I wish I did that." Or, "I wish I made an offer for this house," right? So that's something very important to understand. Be ready, be patient, and don't live with regrets, because that's the worst feeling you can possibly have especially as the market is competitive, and it is a marathon. But at the same time, be ready. You may finish the marathon very quickly. That's how I'm able to provide my guidance, my expertise to give you a competitive edge. And so hopefully it will shrink that process altogether. But also through that you're mentally prepared to go through the journey.
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My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!
Spencer Hsu, MBA, Realtor
408-547-4590
EXP Realty DRE #02077253
https://www.homesbyspencerhsu.com/
#BayAreaRealEstate
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