Welcome to our first video blog of 2017. I'd like to wish you a Very Happy New Year and hope you had a wonderful holiday with your family.
Today I'd like to talk about what is the most common question I get and that is where is the market at right now?
Firstly I'd like to share some good news with you.
There's been a prevailing opinion that the market has gone soft and is not very good right now. However, if we look at the year-end statistics, it tells a very different story.
We had almost exactly the same number of active listings and new sales as we did for the past two years - 2014 and 2015.
So even though there's a public perception that things may have slowed down, if you actually look at the numbers, we're still rolling right along and have had an incredible run with the market over the last few years.
As is normal when we have something volatile like an election, it does typically cause people to pause momentarily and creates the perception that we may have slowed down. But the truth is that the market is still rock solid.
Most importantly around Silicon Valley, we have a great economy, with lots of great jobs and new growth and a strong commercial market. These are all good indicators for the residential market.
For the foreseeable future, it looks like we are just going to be plugging right along, barring something unforeseen. Mortgage interest rates are ticking up a little bit, but there's not been a big impact in our market here.
If you're planning to sell your home this year, it is definitely a good market with very little for sale right now and a great current opportunity before inventory rises significantly as we head into the spring.
There's also good news if you're thinking of buying. There's the prospect of good inventory arriving on the market for you to choose from, with still competitive interest rates.
It's looking like yet another healthy market so, whether you're a buyer and/or a seller, feel free to give us a call on 650 947 4787. We can answer any questions or concerns you may have and provide help, including preparing your house for sale, so you can maximize your return.
We will be monitoring this market very closely and will continue to keep you up to date with the latest trends and movements.
Have a great 2017 and I hope we'll be able to talk soon.