Well, as I've said before, they're not yet back where they were in 2007, but home values are climbing! In the latest Case-Shiller report, prices are definitely rising! Nationally, average values are up 0.9% to their highest level in two years. Closer to home, in the report, the San Francisco Bay Area showed a 5.4% increase over a year earlier, part of that increase obviously being right here in Marin County.
So, what does this mean for you as a buyer or seller? Well, if you're a seller, it adds impetus to getting your property on the market as buyers will be increasing their push to make a purchase at the best price they can now obtain. Also, with the continued record low interest rates, they are out there looking, cash in hand!
If you're a Buyer, combine this info with the low rates and make a deal before the prices climb again. Then you get the added advantage of an increase in your equity in the home you buy.
Questions? Call us for advice; we're always happy to assist in any way we can: Peter: (415) 279-6466; Jane: (415) 531-4091.