Overview of Half Moon Bay Market Trends And Other Local Markets
Surviving The Remodel
REALITY CHECK: It’s A Seller’s Spring In Most Markets
Buying and Selling in a Winter Market
Last month it was reported that the 2018 National Housing Forecast indicated promising news for both buyers and sellers in the year ahead. When looking to purchase or sell a home in this current market, there are various timely facts to consider:
Low interest rates
The standard 30-year mortgage currently hovers at just above 4%, which is still historically low. Realtor.com® reports that rates are projected to steadily climb by the end of 2018.
Demand remains high with tight inventory
It’s still a seller’s market in many parts of the country with Realtor.com reporting that unsold inventory is at a 3.2-month supply at the current sales pace, which is the lowest level since the National Association of Realtors® (NAR) began tracking in 1999. It’s not surprising then that anxious homebuyers are driving-up prices in demand for housing.
Steadily increasing home prices
Realtor.com states that median existing-home price for all housing types in December was up 5.8 percent from December 2016. The price increase marks the 70th straight month of year-over-year gains. For homebuyers sitting on the fence, perhaps it’s time to jump-in before prices and interest rates possibly make entering the market more challenging. Homebuyers should come prepared with pre-approved financing and the ability to make a quick purchase decision.
Client Testimonials:
"This is my 6th transaction with Kathy and Michael Rain - buys and sell transactions. As always they are responsive, professional, innovative, problem solvers, and very thorough. They ensure that my rights and needs are protected and addressed. They work with me and the opposite party to ensure that the deal is done smoothly and everyone walks away with what they need. Their knowledge of the coast side is unsurpassed. In all their years on the coast side, it is most probable that they have been in nearly every property on the coast and know its pros and cons. They listen!!!! They act to fulfill my agenda, keep me informed timely, and give me information for me to make decisions. Service of the highest and best quality!"
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~ Michael & Kathy
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The San Mateo Coastal Real Estate Blog discusses new items of interest regularly. Topics range from those related to real estate and community highlights to local events of interest or anything personal or business related that might be perceived as worthwhile information for public knowledge, discussion and/or use. |
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