Here in the San Diego California market if you were just to look at the housing market for coastal, downtown and luxury homes you might feel like we were back in the stronger home buying years of the early 2000's. Multiple offers, homes selling quicker from their listing date and more buyers have entered the market. From the buy side perspective, another positive is that prices are remaining stable so there are still good bargains to be had. The market up-surge combined with beneficial pricing has led to some homes to sell over asking prices, it is only a matter of time until these sold comps start to move up prices on a broader level.
San Diego, LA, Orange County, and other luxury coastal areas are experience very strong rebounding and home sale are way up. Part of the increase is driven by pent up demand from the past 5 years of folks sitting on the sidelines. Evidence of housing stabilizing, and much of the concern of significant downside risk on home prices that has subsided in most buyer's minds. Certainly the election outcome may make some small ripples on the pond, however, rates at 3-4%, and good pricing values on the some of the most desirable communities in the country.
If you are a buyer that has been sitting out the market. there is no time like the present to get back in and evaluate if the time is right for you to make a purchase. Often times those that wait miss out on good properties, and by the time everything in the economy is back to full swing, prices and rates have risen so sharply that buyers become priced out of the market. Especially if your purchase is to be a buy and hold for medium to long term, Southern California property has always been in strong demand and populations continue to rise, as supply continues to shrink.
DO NOT MISS THE PRESENT BUYING WINDOW. And of course, noone can provide you better tools for expert evaluation for property considerations, insightful due diligence research, and masterful negotiation than your carefully chosen, long-time experienced REALTOR. Check reviews and references before you select your representation. Most advertising- Best Hairdo - Flashiest car as Realtor criteria selection was so '2005'.
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