Caught At The Top Of The Market In New Construction Clovis Ca. 93619

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Real Estate Broker/Owner with EQUITY ASSETS REAL ESTATE BRE License # 01412695
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
 
The real estate market has been humming along for nearly a decade with rising prices.  Don't get caught at the top of the market in new construction in Clovis CA. 93619 in 2018.  Soon enough, the inevitable is going to happen and prices are no longer going to rise.  And once that happens they probably won't stay stagnant but they will begin to fall.  
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
In speaking with different real estate professionals lately on the local level, they have begun to notice a shift in the market this summer.  I noticed it in August and September.  Buyers were no longer fighting over properties to purchase.  Sellers homes were staying on the market a bit longer.  People were reducing the prices of their homes in order to move them.  The spring and early summer feeding frenzy had gone away.  But this didn't seem like a normal yearly cycle.
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
So what happened exactly?  Did real estate hit the Apex like we experienced a decade ago?  Did the housing market plateau?  I couldn't tell you exactly because I cannot see into the future.  But I can tell you that a shift is happening.  Perhaps that shift is due to the fed raising interest rates for the 3rd time in nine months.  Perhaps people just can't afford to keep buying more expensive homes.  Perhaps people are taking the wait and see approach.  
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
But my advice to you at this time would be to not get caught at the top of the real estate market.  I'm mainly talking to those who don't have the most stable job or experience at your job.  I'm not talking about doctors and lawyers and those with high incomes.  We have been experiencing economic growth over all sectors and have been in one of the greatest bull markets of all times.  But we cannot continue to keep going up forever.  At some point there will be a shift and some think that shift is happening now in the market.  
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
Perhaps we don't experience much of an economic downturn until there is a new president or new controlling party in the senate.  I don't have a crystal ball.  But I do know that what goes up must come down.  Economies have been cyclical for a long period of time.  Real estate cycles have mirrored ups and downs since mortgages were invented.  I don't mean to rain on anyones parade that is buying a new house or seriously considering buying new construction.  I'm only cautioning those buying new construction now because new homes are pricy.  If you are buying new construction and plan to remain in the same home for a decade or more then you are probably going to be okay.  It is those people buying new construction now that may experience a job transfer out of the area that need to pay the most attention. 
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
But nobody can predict the future.  This is why I don't want to see you get stuck with a property that may be hard to unload in the future and be able to at least break even.  I want you to be happy with your purchase for years to come.  So choose your next move wisely.  Call me if you are thinking of making that move.  I'd be happy to guide you through your decision, (559) 246-8991.  To see what is for sale in real time in and around Clovis 93619 click here.
Caught At The Top Of The Market In New Construction Clovis Ca. 93619
 
 Caught At The Top Of The Market In New Construction Clovis Ca. 93619
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Jason Nenadov

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