How about a dose of Reality? Well, perhaps your Realtor hasn't told you but leave to me to give you the hard but true news. If you were hoping to time the bottom of the market, well that ship sailed 11 months ago. Home Prices have risen nearly 10 percent in that time period and they are expected to rise around 10 percent in the coming year. Just like timing the bottom of the market is virtually impossible timing when the Interest Rates will rise and not drop is also impossible to predict. It took nearly a year to realize that the bottom of the real estate market happened almost a year ago. Interest Rates will one day rise and never be available again at the current historic lows. Your Realtor will sell homes whether prices are low or high. Their job is to inform, educate and represent you. Your job is to find a Realtor that knows the market and cares about you and your best interest. Once you do it is essential to take their lead and if they say you need to "Settle" for the best priced and located home and forget about perfect, take their word for it.
Check out the active listings in the Santa Clarita Valley. This area includes Valencia, Stevenson Ranch, Castaic, Saugus, Newhall, Canyon Country and Santa Clarita, California. There are currently only 235 Active Listings. Of these Listings Only 19 are Bank Owned (REO or Foreclosures) & Only 33 Short Sale Listings. There are no 180 Standard Sale Listings. This shows that you will no longer be dealing with a seller that needs to sell right away. Home Prices will rise, Days on Market will Rise, New Listings will Rise. These new listings will hit the market as prices rise. We will be seeing a multitude of overpriced listings this year. The days of the bidding wars may soon be behind us as Seller catch up with the pent up demand.
The biggest benefit to buyers today is the assurance that prices are sound, the investment is sound and prices won't be dropping anytime soon. Let's start the next bubble together!
Your Friend & Realtor,
Tony Lewis * RE/MAX of Valencia
www.TonyLewis.com tonyglewis@yahoo.com Cell - 661-510-7975
Comments(1)