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Market Update: What I'm Seeing Out There

In many blog posts, I might use a graph depicting recent sales or post relevant information from trusted real estate or mortgage professionals regarding current market trends.

Today, however, I am going to deviate from that approach a little bit. I will take a a few minutes to share what I am PERSONALLY seeing "out there" in the real estate market to provide a bird's eye view of what a buyer or seller might expect in the current East Bay marketplace.

NUMBER ONE: Inventory remains incredibly low. The Seller's Market remains strong.

Homes are coming on the market everyday as we settle into the spring buying season. Inventory is continuing to grow. However, homes are still in high demand.

In Benicia, for example, there are currently just five single family homes on the market. Walnut Creek has just 16 single family homes on the market. Consequently, the townhome market in the East Bay is performing VERY well with incredible price increases. Call me for details!

If you are a Seller and it's the right time to make a move: SELL! Many well-priced homes still receive multiple offers.

NUMBER TWO: If you are a Buyer, get your loan pre-approval ready and be prepared to make that offer--fast.

Remember, interest rates have inched up a bit, so a current pre-approval is vital. I'm seeing some agents submitting offers with pre-approvals that are no longer relevant in the current market. Don't make that mistake! A quick review with you lender can allow you to be sure that you are searching in the appropriate price range for your purchase.

Keep your eyes close to the market as new listings appear and let your agent know immediately if you'd like to see a property. Homes can go into contract quickly! If your agent isn't ready to show you a property at the drop of a hat, consider finding an agent that will absolutely make you feel like the only client they have!

Buyers might consider checking into homes that have been on the market a little longer or are in need of minor repair. Do you have the ability to work remotely? Consider a new geographic location that may be more budget-friendly while offering all the amenities you need.

NUMBER THREE: Sellers, make sure your agent is doing everything they can for you!

Remember: If you are selling, make sure you receive the proper support from your agent in preparing your home. Don't leave a dime on the table.

Ask your agent about complimentary home staging, complimentary curb appeal updates, custom property website, professional photography and video, premier targeted marketing, neighborhood open houses and events, and managing the home sale preparation from start to finish.

Selling a home is more than just pounding a sign post into the ground!

NUMBER FOUR: My mantra hasn't changed: Have Fun!

Looking for more information? Give me a call anytime! 925.360.3261


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