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Folsom Weekly with Rondo & Nate Real Estate - May 10

Folsom Choir at Carnegie Hall, City Work Day, and How to Navigate a Bidding War⚔

Author

Rondo Membrere
May 10, 2024

Welcome To Folsom Weekly, By Rondo & Nate

This week we cover:

  • 🎶 Folsom High School Choir Shines at Carnegie Hall

  • 🏗 City Work Day Returns on May 15th

  • ⚔ Navigating a Bidding War: A Buyer's Strategy

  • 🧑‍🚒 New Firefighter Recruits, Airport Seeking Artists, and a $30M Street Project.

Folsom High School Choir Shines at Carnegie Hall

Twenty talented students from the Folsom High School Choir recently had the opportunity of a lifetime, performing at the prestigious Carnegie Hall in New York City as part of the WorldStrides Festival.

Under the guidance of director Melanie Huber, the choir earned this honor through their outstanding gold ranking at a previous WorldStrides festival in Anaheim last spring.

Folsom's annual City Works Day is back on Wednesday, May 15th, offering a fun and educational experience for the whole family.

Visitors of all ages can explore a variety of city vehicles like garbage trucks, fire engines, and police cars while learning about the city's departments, programs, and services from knowledgeable staff.

The Tony Award-winning musical "The Cher Show" is coming to the Harris Center for the Arts in Folsom through May 12th. Featuring 35 smash hits and six decades of Cher's stardom packed into one fabulous production, the show takes three women to play the iconic superstar at different stages of her career.

The New York Times raves, "The Cher Show gets me, babe. Inspiration can arise from seeing how a famous American came defiantly into their power."

⚔ Navigating the Bidding War: A Buyer's Strategy

Bidding wars have become the norm. In order to stand out and remain competitive, here are 7 strategies you can use to make your offer stand out and secure your dream home:

  • Get Fully Pre-Approved: A full mortgage pre-approval is 10x more powerful than a pre-qualification. Submit that pre-approval letter with your offer to jump to the front of the line.

  • Use an Escalation Clause: Willing to go higher if needed? An escalation clause automatically increases your offer by set increments up to your specified max if competing offers come in. In 2022, 40% of winning offers used one.

  • Limit Contingencies Strategically: While inspection and financing contingencies provide important protection, consider waiving minor repair requests. In a bidding war, a "clean" offer is more likely to win.

  • Increase Your Earnest Money: A typical earnest money deposit is 1% of the purchase price. Bumping that up to 2-3% shows the seller you're committed to closing the deal.

  • Be Flexible on Timing: Let the seller drive the closing date. If they need extra time to move out, consider a rent-back agreement. 30% of recent sellers said timing flexibility was key in accepting an offer.

  • Write a Heartfelt Letter: Sellers often feel emotionally attached to their homes. A sincere letter about why the property is perfect for you can be what moves the needle.

In a bidding war, the most prepared buyer often wins. Use these strategies to make an offer the seller can't refuse and secure your perfect home.

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