Looking To the New Year
Well, in just over two days, 2012 will be a memory. For some of you, the memories will be happy ones; for others a little less so, but, hopefully, no-one reading this will think of 2012 as a bad memory. In real estate here in Marin, we have seen prices overall rise, the amount varying from town to town and property to property. Numbers of sales were also generally higher than in 2011, although a general scarcity of inventory in all locales and at all price points had something of a limit on the number of sales.
The coming year, 2013, looks initially at least to be a continuation of most of these trends. Interest rates are also expected to follow their recent levels, as the Federal Reserve has stated it wants to maintain current low rates at least through 2014 in hopes of continued stimulation of the economy.
So, what do we see coming up? As I indicated in my last post, things are overall showing positive directions for the new year. Without repeating the details of that post here, it is safe to say that, barring major economic or disaster caused events, housing prices should continue to rise, along with simultaneous availability of mortgage funds at near historic lows. As I have constantly stated here, these circumstances bode well for both buyers and sellers. Low rates allow buyers to either pay less in mortgage costs to buy their home, or, alternatively, buy a larger, more luxurious home for the same price they would previously have had to pay for a smaller one. Sellers benefit both from the rising values (you can get more for your home) and from the lower rates (allowing more buyers to be able to buy your home).
The, what to do? If you are thinking of buying--a personal residence, a second home or a piece of investment property--get pre-approved for your loan. If you do not have a mortgage lender in mind, call us. We can refer you to one who will provide you with the best terms and conditions for a loan. If you're looking to sell, also give a call. We'll be happy to provide a free valuation of your home--as well as recommend steps to take to obtain the best price in the shortest possible time for your home on the market.
With these thoughts in mind Jane & I want to thank you for your support and friendship in 2012, and wish you all the Happiest and most prosperous of New Years!