Will 2016 tip back to a sellers’ market?
I hope you all had a nice Thanksgiving, my wife and I stayed home this year and enjoyed quality time with family and friends, and also enjoyed our gorgeous desert weather.
Happy December, it’s hard to believe this year is almost over. As you can see season is in full swing with everyone in town escaping frigid winter temperatures in other areas of the world. For Dave Kibbey & Associates this year has been another stellar year with a substantial number of listings and sales, with our sales numbers outpacing last year’s numbers by 20%. Why? – I believe it is due to our priorities; Market knowledge – understanding the market intimately, being authentic, always telling the truth no matter what, consistent quality marketing, and working smart and staying focused on bringing our clients objectives into reality. We are thankful and grateful to be able to help so many people achieve their real estate goals.
Do your New Year goals include buying or selling a home? If so, it is important that you understand that our desert area real estate market is healthy, though our market is not consistent with Orange County, Los Angeles, or the Bay area markets. As I write this letter inventory has climbed with seasonal inventory levels HIGH, and it currently remains a buyers’ market with overall values down year over year! If you have been thinking of buying a home in the desert, get out and take advantage of this market and pull the trigger now. There are many opportunities to take advantage of. Think about it… inventory continues to outpace buyer demand, mortgage rates currently remain historically low, and many sellers are priced well and ready to negotiate. There is not a better recipe to get a great buy? According to Bank of America lending, fluctuating mortgage rates depend on year-end jobs report. If more people are working, mortgage rates will rise, if jobs remain the same rates will likely stay the same.
If you’re thinking of selling your condo, home, or estate property, the likelihood is I will sell your property this season as long as you are; ready, realistic with your expectations of the market, listen to my advice and what the market is telling you, and are willing to adjust if needed based on market conditions. Luxury home sales are currently slow and we’re all hoping buyers will come out of the woodwork early 2016 taking advantage of many crème of the crop luxury properties available. Yes… trophy homes will sell for more, substantially more at times, though your trophy home must be unique, offer significant WOW factors, and be highly desirable. Our trophy home prices remain DEALS compared to Orange County and Los Angeles prices.
I hope you find this information helpful. If you have questions, or you have been thinking about buying or selling, please do not hesitate to reach out to me. I welcome the opportunity to help you achieve your goals now or in the future. Click here to view specific sales, values and “days on market” in all price segments.
Wishing you all a Merry Christmas, Happy Holidays, and a Happy Healthy 2016!
All the best!