With the holidays coming, it is still a good time to sell. Interest rates are still low and buyers are still optimistic about the future of properties. They are almost twice as optimistic of the market then 2 years ago. Buyers are well informed using REALTOR services, social media and their mobile devices to locate their home of choice and other information that was not available in the past. So if you’re thinking about selling the home but you want to improve the property, some improvements will have a better value then others. So work with your budget and get the most bang for your money.
Half of the year has gone by and the real estate market is still pretty hot, especially here in the San Francisco Bay Area. If you’re planning to sell your home now or in the future, there are buyers ready to purchase your home now and in the future. A lot of buyers are very practical and will purchase a home in a good school district as oppose to having a other benefits the home may offer.
If you’re planning to sell your home, you want to make the home appeal to what the buyers are looking for in a home. Don’t wait too long, there is a forecast that says home values are going to peak in 2016.
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Last year, in 2013, more then half of the homes sold were on the market for 6 weeks or less. This was the shortest time on the market since 2005. One of the reasons why homes sold so quickly was due to lower then normal inventory levels. In this type of market, sellers are seeing more and more offers over the asking price. In 2013, 50% of the properties that sold last year, sold over the asking price. Most of the sales, almost all, had multiple offers to buy the property. When this happens, buyers have no choice but to participate in an auction type situation. The situation is changing and the inventory levels have increased, providing buyers with more choices. As prices increase, sellers are more willing to make a move.
This is still a good time to purchase a home. A couple of things to think about when buying a property, you might want to know how the neighborhood will fit in your lifestyle and since we are in a drought, how will the property help you conserve water.
If you’re thinking about selling your property here in California, now might be a good time for you to do so. Median home prices are up in most, if not all of the counties in California. Locally, San Mateo and Santa Clara counties have low inventory, but is increasing, so there would be more buyers for your home and you’ll get a higher price for now. It’s been about approx. 7 years since the great recession and finally we see an improvement for our state.
If it’s the right time to sell, don’t forget to use a REALTOR. You’ll be glad you did. There are so many things involved in a sale, you need a REALTOR to help you get the best price for your home, with least amount of stress. Believe me, if you don’t know what you’re doing, it will cost you in the end. The fee is still tax deductible until the government takes it away. Remember when commercial property mortgage payments and your interest paid to credit cards were tax deductible ? Well not anymore.
Every property owner have choices to make when it comes to improving the property. Unfortunately, most of the improvements are done prior to selling the home. When making plans to sell your home, you want to get the best price, right? Well, there are a few things you can do to increase the value of the property and there are things that won’t. However, if you’re planning to keep the property until you die, then it really doesn’t matter what you do to the home as long as it makes you happy.
Thinking of selling in the near future? If you are, buyers are out there with a positive attitude about home ownership. Since the big recession, buyers believe it is still a good time to purchase their home before they get priced out. So if you’re planning to sell, there are buyers out there ready to purchase your home. Don’t wait too long or you’ll miss all of the excitement.
Due to lack of inventory, San Francisco is really heating up for the summer. The Median Sales Price was up 35.6 % to $1,055,000 for single family homes and 18.2 % to $827,500 for Condo/TIC/Coop properties. Supply of Inventory decreased 23.1 % for single family units and 36.4 % for Condo/TIC/Coop units.
You can almost say good by to the 3% loans. Interest rates are going up as well. Making it even harder for buyers to purchase anything in San Francisco. But, loans are still cheap, don’t wait until they reach double digits again.
San Francisco is doing well. Prices have been and still going up. Fueled by low inventory, low interest rates and a high demand, the market prices will continue to rise. If you think it is hard to buy something today, it will be harder tomorrow.