Just Listed in Mountain View!
/Join us for an open house all weekend long at this end unit townhome a short drive from Downtown Mountain View, with a backyard perfect for parties with friends, family, and neighbors!
What’s in a price?
/When you put your home up for sale, choosing the right asking price could be the difference between getting what you want and leaving big-time dollars on the table — especially in today’s tight market. So how do you find the right number?
CHIC (Pearl)
Setting an asking price is all about striking a balance — between the price you want and what the market will bear, high interest rates and low inventory, first impressions and protracted negotiations. In this treacherous territory, it’s good to have an agent to guide you to the promised land. We’ll help you make sense out of the tea leaves and find the asking price that fits your property.
GEEK (Kevin)
I love a good numbers game, and finding your asking price is all about crunching the data. The first step is to analyze comparable sales in your neighborhood. How do the homes compare to yours by the numbers? How closely did asking prices mirror impartial estimates? How long did the properties spend on the market? Once you know the landscape, it’s easier to find your way.
Demand & Supply
/As higher mortgage rates become the new normal, more buyers are entering the market. But the same high rates are causing many potential sellers to stay in their homes with lower long-term fixed payments. When will supply catch up with demand?
CHIC (Pearl)
I get the feeling we’re almost there now. New listings, offers, and sales prices may be down year over year, but they’re all on the uptick so far in 2023. Open houses and broker tours are packed, and homes are selling quickly with multiple offers. Everything seems to be moving in a positive direction.
GEEK (Kevin)
Feelings are fine, but I need more data before I’m willing to say the market is on its way back. We could also be in the middle of a long-term malaise that will only be resolved when things explode or fall apart completely. Neither would be surprising at this point. But here’s hoping for an explosion.
Positive Signs
/Following a slow second half of 2022, buyer demand appears to be rebounding so far in 2023, with open houses, offers, overbidding, and absorption rates all on the rise. Median prices have yet to recover from recent declines, but those drops are based on numbers from the peak of a 10-year market cycle. And it’s only a matter of time before increased demand and a continued inventory shortage drive up prices again.
The proverbial pink elephant in the room is unpredictable interest rates, which have put a chill on the housing market. Spring is typically the most active period of the year for sales, so we should learn more in the next few months about where we’re headed.
Weekend Gratitude: SOLD EARLY!
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We were grateful to close a recent home sale before the open house, especially in an environment where many homes are spending a longer time on the market. It only took two days to find a perfect buyer for our sellers, and we ended up getting them a preemptive bid that was $100K over their asking price!
