Is this a good time to build your dream home in El Dorado Hills?

If your personal economy is such that you can buy a parcel of land and build, this is a great time to do it. Values for vacant lots are way down and construction costs are lower too. There are some gorgeous lots for sale in Serrano and at The Promontory. Here's a link to my home video about an available lot that's located in Kalithea at The Promontory. This property is listed as a short sale and has preliminary plans for a home that will take advantage of the views over Folsom and Folsom Lake.

http://homeonthetube.com/listingdetails.aspx?PropertyID=1288&PropertyAvailabilityType=SALE



Why is it so difficult to buy a home right now?

If you have made multiple offers on homes but still do not have one in escrow, you are not alone. When a well price property hits the market, there are often multiple, competing offers. If you've made an offer on one (or more) of these properties, you probably received a "Highest and Best" notification.

This can some as a surprise to buyers who understood this to be a depressed market. Well, here is the story. Today, many seller's are listing properties just below market value. They do this to attract the attention of serious buyers and generate excitement.

If you really want this property, how should you decide what to offer? Offer what the property is worth. Yes, that's the magic. Ask your agent to do a market analysis or estimate of value to determine the properties actual current value and offer that.

I have been at both ends of bidding wars (sometimes representing the seller, and on other occasions, the buyer). I find that successful bidding strategies are usually based on a solid estimate of value.                                                                    
                                                                                       

Real estate prices are very reasonable in El Dorado County now...

Sure El Dorado County is known for Folsom Lake, South Lake Tahoe, the Gold Rush town of Placerville and family friendly Apple Hill. But, El Dorado County is also known for close-knit communities and beautiful homes. All of these, and, just as importantly, a stabilizing economy, contribute to the area's real estate market. There are some great deals in starter homes, luxury homes and rural properties.