Twenty-one percent of more than 2,100 home buyers recently surveyed by real estate brokerage Redfin say they made an offer on a house without seeing it in person.
“That’s a testament to the proliferation of online listings, mobile real estate apps, and cool things like 3D scans that take you inside and through every room of a home for sale online,” according to a blog on SurveyMonkey, a surveying firm that conducted the survey on behalf of Redfin.
Millennials were the age group to be most likely to make an offer without seeing the house in person first at 30 percent. What’s more, 53 percent of buyers who paid more than $750,000 for their home made offers without seeing the house first.
Source: Redfin and “4 Real Estate Trends That Show a Changing Industry,” SurveyMonkey Blog (Sept. 15, 2015)
El Dorado may come out of this property value funk and turn the corner before other counties in our eight-county region. According to DataQuick Information Service our county’s median selling price is the highest for the region and while Placer, Sacramento, Yuba, Nevada and Sutter all reported fewer home sales during the month than in April of 2010, El Dorado closed escrows increased 9.5 percent from last year.
Our county may continue to fare better than others because our demographics are more stable. Our population is older, less transient and more affluent. We have a greater percentage of homeowners with equity. During the housing bubble years we did not experience the explosive growth of new tract construction as did other areas.
After four years of a declining housing market, any positive signs are a welcomed change and worthy of comment. Then again, the sun is finally shining, spring is here and maybe I’m just feeling better about everything.
Source: Ken Calhoon, Real Estate Broker, Placerville, California