If you are debating purchasing a home right now, you are probably getting a lot of advice. Though your friends and family will have your best interests at heart, they may not be fully aware of your needs and what is currently happening in the real estate market.
Ask yourself the following 3 questions to help determine if now is a good time for you to buy in today’s market. Continue reading →
So you’ve been searching for that perfect house to call a ‘home,’ and you finally found one! The price is right, and in such a competitive market that you want to make sure you make a good offer so that you can guarantee your dream of making this house yours comes true!
Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make! They are there for you to help with paperwork, explaining the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience. Team Patereau is your local resource and we welcome your business.
Here’s a report published by Intero Real Estate Services, Inc., about the Real Estate Market in Santa Clara County for the month of May, 2016.
May 2016 is a Seller’s market! The number of for sale listings was up 8.7% from one year earlier and up 6.2% from the previous month. The number of sold listings decreased 3.6% year over year and increased 5.8% month over month. The number of under contract listings was down 1.2% compared to the previous month and down 3.1% compared to the previous year. The Months of Inventory based on Closed Sales is 1.2, up 9.5% from the previous year. The Average Sold Price per Square Footage was up 4.7% compared to the previous month and up 7.4% compared to last year. The Median Sold Price increased by 1.4% from last month. The Average Sold Price also increased by 4.2% from last month. Based on the six month trend, the Average Sold Price trend is Appreciating and the Median Sold Price trend is Appreciating. The Average Days on Market showed a downward trend, an increase of 5.6% compared to the previous year. The ratio of Sold Price vs. Original List Price is 102%, a decrease of 4.7% compared to the previous year.
It is a Seller’s Market Property Sales (Sold) May property sales were 1039, down 3.6% from 1078 in May of 2015 and 5.8% higher than the 982 sales last month. Continue reading →
Here’s some 2016 Real Estate Market Projections/Predictions for 2016 from CNBC. “Total homes sales next year are expected to reach the highest levels since 2006 on the back of new construction and the existing housing market, realtor.comreported Wednesday.
The report contains several surprises. Among them, Providence, Rhode Island, ranked as the hottest market for 2016, and millennials are expected to make up the biggest demographic of homebuyers next year.
Sales of existing and new home sales are expected to reach 6 million for the first time since 2006. The pace of growth of existing home sales and prices is expected to slow to 3 percent but remain strong overall. Meanwhile, new home sales are seen increasing 16 percent.
Realtor.com anticipates new home starts will increase by 12 percent.”