The Bust is Busted!!
As I mentioned here last week, current statistics on Marin housing show improvements in both numbers of homes sold and the median prices for those sold homes. True, there are exceptions to the trend--there always are exceptions to any trend, but the overall move is up--make that UP! Well, in the latest monthly Case-Schiller report, the trend appears to be even more broad based than last week's Marin stats indicated. Of the twenty metropolitan areas that C-S covers, all but one showed an increase in preices over the like period from last year. Better yet for we folks living in the SF Bay area, our area had the largest gain of any area!
So, what does this mean? Well, it means that this is a great time (have you heard me say this before?) to be a buyer or seller. If you're buying, these stats, coupled with continued record low mortgage interest rates, make this a perfect time to be on the market looking for a home, or, if you're happy with your present house, an investment property. Combining cheap rates with a continued upward value trend, a trend that most experts are now predicting will continue, is a great way to build wealth! Buy now--watch values rise and at some time in the future, cash out, or use your then existing property base to expand your real estate portfolio.
If you're thinking of selling, what better time to do so? Low rates mean that more people are able to afford to buy your property, and the increasing values mean that more folks are likely to have an interest in doing so. This is something that could in its own way help you receive a higher price for your property.
If you're interested in either side of the market, or just want to get some good advice, call us--we'd be happy to help you in any way we can. Peter: (415) 279-6466; Jane: (415) 531-4091.