What the "Smart Money" Tells us about the Housing Market
In a memo from my Coldwell Banker office, I learned that sales of high end homes, meaning those in the over $2 million range, is up an amazing 12%. Many of the Berkeley Area offices report that more buyers are taking advantage of the still-low mortgage rates and the affordable prices. A fellow agent who was selling a lovely home in Piedmont received multiple offers for her attractive listing, and it ended up selling for over the asking price.
So what does that mean to you?
- It means that if you have big home in the hills and would like to move into a great walk score community in the Berkeley area, then you’ll have a better chance of selling your home for the right price now.
- It’s often said that the high-end market is where the “smart money” is, and if the trend is consistent, this indicates a very positive sign for the rest of the housing market.
- In general, well-presented, well-priced homes are selling much better today than they did a couple of years ago.
- If you’re in the market to buy a home, mortgage rates are likely to remain affordable for some time to come.
To sum up:
There are many reasons to be encouraged that our housing recovery will continue to gain traction – especially here in the Berkeley Area.
For more information about Berkeley Area events and real estate, keep reading this blog. If you're interested in buying or selling a home in the Berkeley Area, Call Chris Neddersen at 510-527-0174 or if you're a buyer go to That House Detective . If you're a seller go to What's Next Homes.
Here's where you can search for Berkeley area homes for sale, and to get a personalized search of on-the-market properties that meet your specific criteria delivered to your email inbox, go to REAlert and get what you want!
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