Short answer: Bakersfield buyers have more negotiating room this fall than at any point in the last several years. Homes are staying on the market longer, price reductions are more common, and sellers and builders are more willing to pay for closing costs or rate buydowns. The buyers who benefit are the ones who ask.
1. Look for listings that have already cut their price
A price reduction tells you a seller has watched the market and adjusted expectations. These homes often have the most room left to negotiate, especially if they have been listed for several weeks since the cut.
2. Ask for a seller credit, not just a lower price
A seller credit toward your closing costs keeps cash in your pocket on day one. For many buyers, a credit is worth more than a slightly lower price because it lowers what you bring to closing.
3. Price out a rate buydown
A buydown uses seller or builder money to lower your interest rate, temporarily or for the life of the loan. Ask your lender to compare a buydown against the same dollars taken off the price; the monthly payment difference is often surprising.
4. Bring your own agent to new construction, on the first visit
Builders are offering incentives to move inventory. Their on-site sales staff represents the builder. Many builders also require your agent to register you on your first visit, so bring your agent before you walk in.
5. Use the inspection
When fewer buyers are competing, you can make a full inspection contingency part of your offer and negotiate repairs or credits based on what it finds.
The bottom line
Every price range and neighborhood is different. If you want to know where the leverage is for the homes you're considering, book a free 15-minute strategy call or call me at (661) 333-5161. You can also read the buyer FAQ.
