Fall is officially here. You can tell, not because the calendar says September 21 has come and gone, not because there are a few maple trees with leaves starting to turn, not because football season is in full bloom, but because getting to Half Moon Bay is a bear, especially on the one hot day of the year since June. I just wanted to take my labradoodle Demi to the harbor in Half Moon Bay for a good swim and some quality ball catching time. Here she is in her beach robe after a hard swim.
The way you know it is really Fall is that everyone in the bay area is trying to get to Half Moon Bay to pick pumpkins for Halloween and it is not even the week-end of the Pumpkin festival.
But back to business. One of the most common questions I am asked: is it a good idea to put MY PALO ALTO home on the market in the fall since school has started and the Holidays are upon us? My answer most years is yes, but this year it YES YES YES!!!!!!
As a very long time Palo Alto realtor I can tell you that these things are true:
Right now the inventory is still at historic lows, and will likely get lower in November and December
There are hundreds of buyers out there looking
Interest rates are at historic low levels
The stock market is doing well which is where the down payment and sometimes purchase money is coming from
The European Financial Crisis seems to be under control at this moment
We are not imminently about to go to another war
Many out of town buyers are in the area during the holiday season.
Will you get more for your home if you wait till next spring? Maybe, but maybe not. Will you sell your Palo Alto home easily and for a good price right now. Yes.
Will taxes on the profit be higher after Jan 1 than they are right now? Probably
Should you gamble and maybe get more next spring or maybe not? Your choice.
So if you want or need to sell now do not let the fall dissuade you from doing anything but trying to get to the beach when everyone else is trying to get their pumpkin.
If you have any questions about buying or selling a home in Palo Alto please feel free to contact me.