What’s Going On With The Market?

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It seems the question we’ve been getting time-and-time again these days is “what’s going on with the market?”.  Everybody wants to know if this is a good time to buy and sell a home, and what our crystal ball (or Magic 8 ball) predicts for the future.

The one thing we can say with all certainty, it’s a GREAT time to buy a home!  Interest rates have remained historically low, loan programs are available with as little as 3.5% down-payment and there are great deals to be had.  Buyers have been getting homes at bargain basement prices, whether it’s a bank owned property, short sale or a motivated seller, buyers rule the roost these days.

It’s not all bad news for sellers.  If people are buying homes that means someone is selling.  The key word for sellers is”Realism”.  Sellers need to forget what there home WAS worth and be realistic to its current value.  Just as your 401K WAS worth a lot more several years back it’s only worth so much to day.

The most common seller we’ve had these days are folks looking to move-up, either in house size or location.  Sellers know they are going to take a hit selling their home, sometimes because of what they previous paid, improvements they’ve done or a combination of both, but knowing what they can purchase makes it a winning proposition.  Sellers are taking a look at the big pictures these days.  Sell at a loss now but on the purchase side property taxes go down, interest rates goes down and they’re in a house they really want in an area they love.  For some folks this is their rational and what motivates them to sell in today’s market.

Warning, if you decide to sell your home, pay attention to the following; YOUR HOME IS ONLY WORTH WHAT SOMEONE IS WILLING TO PAY! Preconceived notions of home value will only set you up for disappointment.  We give you a range of what we think your house is worth but ultimately the buyer decides the final value.  Keeping this in mind will save you a lot of stomach pain and let you sleep at night.  In this market we plan for the worst and hope for the best.  Selling in today’s market is not for everyone; there’s a leap of faith that’s required, need for a good poker face and the ability to stay calm in the face of adversity.

As this market continues to evolve over the years to come we look for indicators to help us predict the outcome.  Surely interest rates will increase down the road; we can’t stay at historically low rates for ever.  Conforming loan limit changes are coming very soon.  The government is going to phase out Freddie and Fannie and the lending world as we know it today will probably look very different tomorrow.  It’s currently a buyers market, but nothing lasts forever so take advantage while you can.

As we look to the Magic 8 Ball for answers about this ever changing market and what it has in store for us we will undoubtedly get the ubiquitous response “Reply hazy, try again”.  We can’t predict what may or may not happen tomorrow we can only advise how to act today.

Interested in buying or selling a home today?  Contact Rinetti & Co. Realtors, (510) 568-6171 or RinettiCo@sbcglobal.net.

Cheers

Category : Blog

About Us

Since 1970 Rinetti & Co. Realtors has been selling residential real estate throughout the greater East Bay including San Leandro and Pleasanton. We are boutique real estate company with a single focus, exceptional customer service from start to finish. Rinetti & Co. has the experience and practical knowledge to adapt to changing market conditions while providing our clients expert advise when buying or selling a home. If you’re considering making a move please contact us and see the difference Rinetti & Co. Realtors can make for you.

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The only realtors in San Leandro...You will not meet two finer or more ethical realtors. The best! - Gary S.

Rinetti & Co. turned out to be the perfect place for me to do business...I would not hesitate to recommend their services to anyone buying or selling property. - Mary K.

...As I am sure you are aware, a house is stucco, wood and nails, but a home is where a lifetime of memories are created. Our mother was very proud of her home, it meant so much to her.

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...Thanks for your patience, guidance & professionalism, you made this experience a great one that we will never forget...We can’t thank you enough, thanks a bunch!!! - Rocio R.

If anyone in the East Bay is looking to buy or sell a home, please consider my friends and agents Tianne Rinetti-Vittoria and Perry Vittoria! They helped us buy our house and did an amazing job! They go above and beyond.”

- Chris S.


San Leandro Office
1103 MacArthur Boulevard
San Leandro, CA 94577

(510) 568-6171

Pleasanton Office
231 Old Bernal Avenue, Suite 5B
Pleasanton, CA 94566
(925) 364-5013

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