Our San Diego Real Estate Market continues to surge ahead with vigorous momentum. Multiple offers and low market times are the norm with most listings, especially those that are $1.5M and under. Interest rates have moved down and are sitting close to the 4% mark again on a 30 year fixed conforming loan. Inventory remains very low and this is developing into the perfect scenario for anyone looking to list their home for sale this year.
I have come across several great articles sharing data about our current market. One of the best and most concise articles I read was an article on Inman written by Marian McPherson.
In it, the writer cites research showing that January 2017 was the fastest growth that we have experienced in the last 10 years. Additionally, I have kept tabs with other industry data hawks who I have relied on in the past to forecast market direction. Most indicate that we will see little change to market upward momentum until interest rates top the 5% mark. Understand that when rates go up, it is typically a direct correlation to a strong employment environment and a robust economy. They also indicate that the inventory situation is not going to be cured anytime soon, if at all, in some micro markets of San Diego County. Through all of my research it appear that economists are predicting that interest rates will end this year in the 4.6%-4.8% range. It may not be until 2018 when rates eventually top 5%. That leads most to believe that 2017 is the year to sell if you are considering do so at all.
Another great article that I came across encapsulated what I have been seeing and professionally experiencing as I feel the pulse of the market every day with sellers and buyers. http://www.realtor.com/advice/sell/reasons-sell-your-home-2017/ . The one interesting point, that backs what I typically share with all of you, is that if you are selling and buying you are always doing so in a parallel market. Meaning, you might sell for a great price, but you will be buying your new home for a great price for that seller. The redeeming fact right now is the interest rates. As long as you are looking to get into a home to suit you for the next 7,10 or 15 years you will enjoy very low rates and a payment that is taking large blocks of principle of the amount owed rather than a high interest rate market where your initial years are front loaded with a large portion of your payment going towards the interest portion of the loan!
Looking to sell? Is 2017 your year to make a move? Please give Kristine and me a call. We would enjoy the opportunity to put my 22 years in the business and Kristine’s 20 years of industry know-how behind your home sale to provide you with the competitive edge you deserve. I was a marketing major in college and always enjoy hand creating your marketing pieces. From the sales brochure, to direct mail announcements for New Listing On Market & Open House Invitations, we will get you in front of the best buyers in the market place. We disseminate your information on all the best web site portals. We design and produce our own “Real Virtual Tours.” A virtual tour is not your still frame professional pictures to music. No, it’s much more. Rarely do you see a broker have the ability, creativity, financial resources, technical production team and interest in taking the time to personally walk a potential buyer through your property in front of a camera. It is the way of the future for our industry. And FaceTime Live does not count!
Now, I am no Ryan Seacrest. But what I have learned is that I may not like how I sound, look and feel on camera, but this is me! The same guy who has guided just shy of 1,000 re-sale clients through, for most, what amounts to their largest transaction of their life. The ability to be a leader, council our clients through every emotional stage of the process, to possess strong writing skills, to pick up a phone, develop rapport, articulate and share information about your sale and communicate in an intelligent way with those in the public are just some of the skills where I recognize our superiority in the industry. And these personal touches can make a huge difference.
It is never too early to start planning! So, pick up the phone and let’s talk about your next real estate step together!