Happy New Year (assuming we can still say that – lol)
Are you all ready to tackle this year? We sure are! Here’s what you need to know, if you’re even considering buying or selling your home – or, if you’re generally curious to keep up with the market.
Interest Rates: The Plot Twist We Predicted
Remember those endless Instagrams and past newsletters where we talked about interest rates dropping and then competition heating up? Well, hold on to your hats, because it’s happening. Interest rates are finally taking a dive (with some volatility along the way) – but, it sure is stirring up the market.
The Market Now: Real Stories, Real Data
Generally, when we want to understand how the market is doing, we look at recent sales. However, inherently, that’s ‘old’ data, since those sales got into contract about 21-30 days ago. We use those sales to assess the value of a home, because it is really the best and most tangible metric that we can get. But, if you’re trying to understand what’s happening RIGHT NOW, you need better, real-time information.
And, that’s what you have us for – because we’re out and about every day, living and breathing this! Here are some examples to show how the market is picking up
Bidding Wars? No Sweat!
Worried about the return of bidding wars? Don’t worry…we got you! Not to toot our own horn, but we have a pretty awesome track record with setting our buyers up for success! Our all-time average is:
So, like we said, we got you! 2023 was an anomoly, but multiple offers are common in the Bay, and we know how to best negotiate and position our clients to win. (P.S. That 1.5 stat includes the crazy housing market in the Pandemic, when others were telling us that they were writing more than 5 offers before winning – or giving up.)
Looking Ahead: Our Crystal Ball Predictions
As we look ahead, we’ve talked at length already about how we believe interest rates will continue trending downward and the housing market will pick up, with prices steadily rising. But, like any good economist, we need to constantly track the latest data and influential events to check our predictions and adjust, where needed. So, what should we all be keeping an eye on this year?
- Elections: Biden will be very focused on ensuring the US economic metrics are as strong as possible leading into the election.
- Mortgage Rates: The heartbeat of the housing market – we’re monitoring every little change, and the underlying factors impacting those changes (like the bond markets, and 10-year treasury).
- Stock Market: Things are up from last year – aka people’s wealth is recovering. That will play a big role in affordability and overall buyer confidence.
- Inventory: Watch out! There’s some pent-up supply. So, post-Super Bowl, we expect more homes to hit the market, particularly in March and April
Getting Ready: Your Next Steps
Thinking of buying? Now’s the time to get your ducks in a row. 🦆 And, we’re here to set you up for success. Let’s grab coffee and chat!
Considering selling? We should talk sooner than later to talk through your personal circumstances. And, if it makes sense to sell, we’ll want to craft a strategic plan to ensure your property stands out from the rest. 🎯
Cheers to a prosperous and exciting 2024
P.S. Here are the latest properties that we’re working hard to bring to market later in February. Let us know if any of pique your interest, and we’ll get you in first!
1+1 bed | 2 baths | 920 Sq.Ft. | $1.4M
Pacifica
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This ocean-front gem is ready for those seeking a vibrant beach lifestyle, the perfect vacation retreat, or an incredible investment property – or, all 3!
2 beds | 2 baths | 1,211 Sq.Ft. | $1.1M
Bernal Heights, San Francisco
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Perfect for first time homeowners and those looking to experience the epitome of San Francisco living.
4 beds | 4.5 baths | 4,500 Sq.Ft. | $9.85M
Sonoma
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Whether you’re seeking a home to entertain family and friends or a place to unwind, this estate is calling your name!
2 beds | 2 baths | 1,037 Sq.Ft. | $1.125M
South Beach, San Francisco
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Whether you’re seeking a home to entertain family and friends or a place to unwind, this estate is calling your name!
5 beds | 4.5 baths | 4,520 Sq. Ft. | $3.75M
Sausalito
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Nestled in picturesque Sausalito, this expansive property presents a remarkable opportunity for the savvy contractor, developer, or visionary homeowner.
