Around the Bay Area, many homes have been pulled off the market due to the COVID-19 crisis. But the sellers who are still out there desperately need to find buyers, which means you could get a great deal if you’re ready to act now!
– The Geek
Did you know? Smart home technology can save you 30 minutes a day and $100 a year. See more facts and figures in this infographic, and contact us with questions.
– The Geek
Did you know? The “flip rate” in the U.S. just reached 10.9% of all home sales. That’s because flipping today is less risky and less speculative than it was a decade ago, and more corporate flippers are entering the market: 41.2% in 2018 compared to just 11.4% in 2005. Learn more
– The Geek
Our life is sweeter because of you. Thank you for supporting us and our business. Happy Valentine’s Day to all!
Did you know? Rising Valentine’s Day sales over the past 10 years point to increasing consumer confidence and a growing, robust economy. How does that affect the real estate market? Find out more
It feels like the market is heating up again. I recently worked with a fellow agent on a single-family listing in the Cuesta Park neighborhood of Mountain View. The home listed at $1.87M. Yesterday, on the offer date, we had 21 bids with the highest at $2.22M. As you’d expect, the seller accepted without contingencies. but we were all shocked by the competition.
Ever since September 2018, the market has seemed to slow, so why the sudden jump with this property? Well, there are a couple of factors at play here. First, if you look at the graph below, supply is very low compared to one year ago. When there is an extreme imbalance of supply and demand, you naturally see price hikes.
The second factor is seasonality. Late winter/early spring is generally a great time for sellers, as buyers start to look for houses after the holidays and before the spring break. And with inventory so low right now, it’s like a perfect storm!
Please contact us if you want to know the inventory level in your neighborhood or a particular city that piques your interest.
– The Geek
