Happy March!
I'm grateful for another spring. Like clockwork, the birds begin their morning songs this time of year. While I have one little yipper who chatters all night and sometimes wakes me in the middle of my sleep, I still appreciate the season's renewal, rebirth, and the fresh start it brings—all sprinkled with sunlit mornings between the rain.
We are now in the midst of the spring market, and I'm seeing buyers actively searching for places to call home and communities where they can plant roots. The market right now is extremely complex, filled with a myriad of inventory, and I'm seeing more flipped properties—homes that have been purchased, renovated, and resold for profit. Some feature ultra-modern finishes that don't always complement the home's original architecture and era while others are tastefully done.
A challenge I'm noticing is that in some of these flipped properties, the disclosures and inspections can feel ambiguous. Often, not all recommended repairs are addressed, and finished walls can conceal areas and limit an inspector's ability to see the full scope of various home systems, which some buyers find concerning due to the possibility of damage or problems that may exist behind the inaccessible areas. Because of this, many of my buyer clients feel financially stretched—debating whether they should spend their entire budget upfront or set aside funds for potential unforeseen repairs.
Of course, even when purchasing a home from a longtime owner, surprise repairs can still arise—that's part of homeownership. Maintaining a home takes ongoing care and attention. For example, every two years, I have my tankless water heater descaled to extend its life. After a heavy storm last month, I discovered water in my crawl space despite having a French drain and sump pump. Upon inspection, I learned that my pump needed to be replaced. A home is like a family member—it requires "doctor appointments" and "prescriptions filled" to maintain its integrity.
But in return, what a home gives us is profound. It shelters us through stormy weather, keeps us warm and dry, and inspires us when morning light floods through the windows. It's where gardens bloom, breezes carry the scent of lemons, and music and laughter fill the air. It's where we find comfort on difficult days. It is, simply, my favorite place.
As buyers navigate today's market, they analyze everything—the layout, condition, potential repairs, point-of-sale requirements, recent comparable sales, and whether the home will fit their needs for years to come. Affordability is a defining factor, and because people are staying in their homes longer, they are also thinking ahead to future needs.
A growing trend I'm seeing is that buyers are subtracting more than just the cost of deferred maintenance from their offers. The reason? They can't finance the repairs—they need to pay dollar for dollar out of pocket while factoring in the risk of going over budget and the inconvenience of managing renovations.
On the flip side, I'm also seeing buyers willing to take on larger projects to get into neighborhoods they might not otherwise afford, securing homes at lower prices than properties with less repair and updating needs.
For more insights into the spring market, check out my latest Real Estate Market Trends segment on KTVU. And as always, I'm here for any specific questions or needs you may have.
Warmly,
March 2025 | KTVU Fox 2 | Real Estate Market Trends
