So Much to Be Thankful For In Local Real Estate
Isn't it just amazing how time seems to fly by even faster as the end of the year approaches! We thus find ourselves just a couple of days away from Thanksgiving. Amazing!
One of the things I like most about this wonderful time of year is the opportunity to pause momentarily and take stock of all that we should be thankful for.
From the perspective of my team and I here at The Nicoli Group, we're extremely grateful, as always, for so many wonderful clients that we've either been able to help so far this year or in the more distant past. Sincere thanks to you all.
And when I look around at what's been happening in our local real estate market this year, I really have to smile and appreciate what's happening out there.
It could certainly be argued that the year has just gotten better as it has progressed. We've seen record sales over list price and per square foot in Sunnyvale, culminating most recently for us with our recent achievement of negotiating over $150 per square foot higher than anything that's ever been sold in the home in question's neighborhood.
If you've owned your home for some time, you simply have to be thankful for the incredible returns that we're now seeing in this area. The new Apple campus always promised to be a game changer, in so many ways, and we're certainly seeing the positive effects in terms of incredibly strong and competitive demand for well located, well presented homes in the right area.
As I observed in last week's blog, no one could have predicted just how much equity and home values would grow by when I started in this business over two decades ago.
Now we're in a position where anyone who decides to cash out on a long-owned home is very often going to achieve potentially life-changing returns.
Sure, it's a dynamic you'll find in other markets, but right here we have an arguably unique set of circumstances revolving around the IT industry that's really supercharging things to even higher levels.
I think we should also be thankful for such a healthy economy, both near to home and nationally. I read recently that the current unemployment rate is just half of what it was in 2010 - a great sign of just how far things have come since those dark days of recession, which are now becoming more and more of a distant memory.
I also read an interesting article recently on realtor.com that suggested we are in fact back to the boom times we saw over a decade ago now and that what contrasts our market with the one then is that we have a far more sustainable blend of good financial circumstances and none of the irresponsible lending that led to so many problems for real estate and the US economy as a whole.
Of course no market is ever perfect and I think that buyers, in particular, would be thankful for more choice, as low inventory of available homes for sale continues to be a major factor across most sectors. While sellers can, and do, undoubtedly benefit from multiple competing offers and less competition, there's always that thought in the mind as to how things would probably be even better if there was more supply to go around.
I hope you'll agree with me that there's an abundance of good things right now. Can I also wish you and your family the most peaceful and enjoyable Thanksgiving.
As ever, don't hesitate to contact us if we can be of any assistance to you with anything related to real estate. Whether it's details of contractors to help with some work you need to your home, right through to devising a detailed strategy to sell your home for the best return, we're always here for you!