OK what's the deal with what's happening with some of these "under $200K"  sales??  I was having a discussion with several agents in my office about the challenges we've been thrown trying to get these "under $200K" sales closed.  I thought I was the only one having difficulty with some buyers, but I'm now learning that there's a common thread running through sales in this price range.

I have a darling home in the Fruitridge area that is only $156,000 and appraised at $156,000 and we had what we thought we very good buyers for $156,000.   A week before closing, lender does their last minute checks and low and behold, they learned one of the buyers was still married and didn't bother to mention it to anyone (he wasn't buying the house with his spouse) because he didn't think "it mattered" ???   Well, it did, being California is a Community Property State and after trying to work it out with the lender, the deal died.

Then another agent brought a good buyer who was putting 20% down on an owner-occupied loan and was made aware that the property had already appraised for the $156,000 selling price and we were mid-escrow closing when the buyer asked for a pest clearance not only on the house BUT ON A DETACHED SHED as well.  The property had always been listed as a Trust with the sale to be "as is" and the sellers had already agreed with the first buyers to complete some relatively minor repairs they'd asked for.....now when we got the new buyer and he received copies of not only the appraisal but the home inspection as well,  he decided to get a pest inspection (which was absolutely his right)....after which he then asked for a pest clearance on not only the house but the detached storage shed as well.
The home inspection had noted that there was some termite damage in the shed, but didn't think there was any in the house.  The pest inspection concurred that indeed there were no termites or termite damage in the main house structure.  The sellers did though, then agree to an additional $1500 worth of work called for on the house (ie some dry rot,  side garage door, etc).....so they went beyond what they had originally agreed to do and were now doing a full pest clearance on the house as well as some miscellaneous other repairs.  Shed was to remain as is.  Afterall,  it was a SHED for storage, not a dwelling.

Buyer is now cancelling the contract because the seller wouldn't make the repairs to the detached shed.
So this is the second deal falling apart on a super, darling, well cared for home in a great little neighborhood in Fruitridge.

After fretting and discussing this with a couple agents in my office,  I found out that we were not the only ones having challenges in this price range.  So what's causing this?  Are buyers thinking prices are falling? (which they're not).....are their agents getting their own egos in the way and causing roadblocks?......are buyers nervous?   Let's get to the root of this problem and get it solved.  There are some excellent properties out there in very affordable price ranges.  This is a golden opportunity for buyers to find good little homes in wonderful neighborhoods for very very affordable prices!!