Happy Monday Caton Team Friends,
I just did my quick, Market Update on Instagram stories – but I wanted to follow up here as well.
This just in – Redwood City has 1.4 months of inventory – that is a lot of homes for sale! More than we have seen in ages! With this brings growing pains. Buyers have much more to choose from than ever before! We’re seeing price reductions as between $10,000 – $200,000 (depending on the location) on homes that have been on the market for a while. WHY? Because with these many homes for sale – new listings are pushing older listings down the list and getting lost in the shuffle. Buyers who are doing this alone – and many are – are getting caught up with the new listings and loosing some major opportunities for homes that have been on the market for over 2 weeks! It is time to get serious people. It is time to utilize the power for REALTORS!
Though our market is in flux – you and I know that the Bay Area is the best place on earth to live – thus our high prices – because so many people want to call The Bay home. But right now there is opportunity. Homes in Redwood City are selling for 99$% of list price meaning – the are selling for 1% BELOW THEIR MARKET PRICE! You read that right and it’s been a long time since we’ve seen this. For now, the frenzy is on hold, we are seeing few offer dates – though if the house is hot there will be a date – but that’s not the point. There are plenty of homes, needing to sell and willing to negotiate! You just need a Realtor to help you sort all this out! Did I mention that interest rates are down to 3/3.5%!!! That is practically free money! When rates are this low – you can buy MORE HOUSE because it costs you less. However, this is a short term opportunity When rates go up – a buyer will lose purchase power because the cost of money has increased. So this really is a market many buyers have been waiting for but they don’t know they’re in it.
If you want to be a homeowner in the Bay Area – we’d love to sit down with you, get to know your wants and needs. Earn your trust and in kind, earn your business. We love what we do and we’d love to help you!
Now – what does this mean for sellers? It is hard to see the vaule of your home change. It will do so for ever and ever, the up and down cycles of Real Estate. However, what it comes down to – what are your goals? Are you selling to move to a larger home, smaller home, out of area etc? There are many facets to consider when buying and selling Real Estate and with 35 years of combined, local Real Estate experience – The Caton Team can help you make the best decision for yourself and your family!
Contact The Caton Team at any time for all your Real Estate needs – we’re happy to answer your questions and be of service.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654
Email | Info@TheCatonTeam.com
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The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true. How can The Caton Team help you?
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654
Email | Info@TheCatonTeam.com
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