When is the best time to buy?
One of the most common questions, is now the right time to buy. That is the million dollar question. Unfortunately none of us have a crystal ball and can tell what the future of Real Estate holds. There are typical seasons for Real Estate, from early spring to mid summer, is generally the busiest time of year. However you may not realize but November and December are often the second busiest time. Family buyers often come into the market a few weeks before the school year ends, and September / October are often the slowest time of year. But what does all this mean? These seasons, though they may shift the markets slightly from buyer to seller or seller to buyer, are not driving factors for the market.
Over the last few years, the Northern California Real Estate market is been stabilizing, A more traditional 6% to 8% annual home price increase is being predicted in many areas. Well priced homes are selling quickly but over priced homes are staying on the market longer. We are not seeing the Short Sales we had in years past and non-contingent offers are few are far between on most areas. This is making for a generally solid market.
Interest rates have increased in recent months are are expected to continue a slow rise in the coming years. This is also healthy for the market as lenders continue to lend manage their risk by requiring full documentation but will likely expand their loan program offerings. So, is now a good time to buy? I believe so, the benefits of home ownership and the potential equity growth in your home may provide you and your family with a growing financial strength.
5950 Stoneridge Drive, Pleasanton, CA 94588
CalBRE License #: 01491373