When the Money Gets Tight, The Smart Start Buying

By
Real Estate Agent with Coldwell Banker

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 right the 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 Bay Area.

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