I was reading the San Jose Mercury News the other day. Well, not an actual newspaper, but the online real estate section. An article caught my eye...
Instead of a news story about states or cities that have booming real estate markets, it was hyper-local forecast by Redfin. It talked about which "neighborhoods" are the hottest across the US.
It seems that 8 of the nations hottest markets are in the South Bay Area (Silicon Valley), one in the East Bay and one in San Francisco. So basically, the top 10 neighborhoods are in the Bay Area of California.
Zillow is projecting San Jose has the hottest housing market for 2018. So again, Silicon Valley.
What does this mean for you?
As a buyer, talk to us early. We need to be sure you are pre-approved for your loan with a firm commitment from the bank. Gathering up your tax returns, pay stubs, bank statements, and supporting docs is necessary before you go looking for a home.
As a seller, also talk to us early. We have our interior designer meet with you, to help get your home in position to appeal to the broadest amount of buyers. This may require pre-sale construction to be sure you get top dollar.
As a renter. The restricted supply and increase in qualified individuals will continue to drive rents higher in the short term. We recommend negotiating longer leases to avoid fluctuating rents.
As a homeowner. Your equity positions are gaining monthly. Unlocking some of that equity with loans or lines of credit can help you get that new car, boat or potentially that kitchen remodel.
Give us a call, we want to help you navigate the market and give you suggestions on what you can do next!
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