There are two general misconceptions in the real estate market today; that properties might go under asking, and this is just a bubble. Current activity indicates that we are beginning an up-trend as part of a larger cyclical pattern, and by the time there is a correction, today’s prices will seem cheap in retrospect. – Pamela Culp
The Peninsula and San Francisco is a diverse and dynamic region. To fully gauge this market, and leverage it to a client’s deliberate advantage, requires regular involvement in each sub-market. Hyper-local information informs my comprehensive view of this complex market, as a result, my clients have what they want now and effectively plan the future.
Current Real Estate Market Trends
It is an exciting time in San Francisco Bay Area real estate. When you know what to look for, and where to find it, there is value to be had at nearly every entry point. Summer 2014 has been level and the market, healthy. As we move into Fall/Winter 2014, we see an upsurge in activity. Interest rates remain low for the time being. Expect continuing competition and to see homes selling over their asking price.
A Note to Real Estate Buyers
We are not in a bubble. Buy Now. Over time our San Francisco, Peninsula and Bay Area market has rapid up-trends. These are followed by a period of correction, and followed yet again by a more rapid up-trend. I expect to see the current up-trend to continue for another 3-5yrs before we see the next correction. After that correction period, we will see things upsurge again. So it is still best to buy now. Prices will continue to rise over time, get the house you want now – While it is here to get!
A Note to Real Estate Sellers
It is a seller’s market. Well-priced properties still see multiple offers; we saw a vigorous Spring 2014 which leveled off in the Summer months. This is typical when we have low rates and a strong market. Inventory is on the rise. While still low in comparison to pre-2008, inventory has definitely increased from that chronically low state, and has continued to grow in the time since. People are looking at more properties; all the more reason for yours to be priced right and in top shape when it goes on the market. I anticipate interest rates to go up slightly in the new year, however, don’t expect that to impact the market in a significant way.
>>> Wondering if this is a good time to put your home on the market or buy into a particular neighborhood? I am happy to answer your questions. Contact me now››
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