Home prices continued to increase in July 2014 but sale price aprepciations have slowed signaling market fatigue since some homes are clearly over-priced.
So, let’s consider why this might be a good time for you to sell your home:
1) Inventory: There are stil more 4 to 5 buyers for evetry good home on the market. So, the demand is still strong for you to get top dollar for your home if it shows well. In fact, according to the National Association of Realtors(NAR), the supply of homes for sale is still below the normal 6 month level of inventory. That means less competition for your home if it’s listed today for sale.
2) Interest rates: Interest rates are still low by historiacal standards but if the signals from this week’s Fed Banker’s meeting is any indications, some of them want to start increaseing the rates sooner than later.
3) Job Market: The improving picture of the job market in Silicon Valley is still fuelidng the demand for housing. The tech-fueled economy is raising the price of home in some markets specially with the end of quite priod for some stocks such as Facebook and Twitter.
4) Geography: We are trapped between the San Francisco Bay and Pacific Ocean, which means land is still scarce around here. And Scarcity is one of the best indicators of future appreciations. Sure, if you were buying in Sacramento area where new housing developments start every few months, then your criteria to sell would be different. But we don’t have that dynamics in Silicon Valley where
Ironically, we are working with some investors who will allow the sellers to rent the property back after the sale which is a huge bonus since it also eliminates the need to find another house and the move.
So, feel free to contact us if you want to sell your house without moving!