October 1st… the weather is cooling and before we know it high season will be here again with people from all over the world enjoying our beautiful desert weather. I’ve had a great year with very good sales numbers, along with time away in Hawaii and the Mountains. Life is GOOD. My business would not be what it is today without all of my great clients putting their trust in me to look after their best interests with real estate, the many referrals I receive regularly, and the genuine testimonials showing sincere appreciation for getting the job done. I have so much to be thankful for.
Some people have done well with their real estate this year and others have not. It all depends on when you bought your home, how much you leveraged the property, if any, and whether you have maintained or improved your property. With overall inventory levels remaining high causing stiff competition, if you’re thinking of selling, it pays to keep your home looking its best.
Year over year, both sales numbers and values in most price segments remain down slightly under 2014 numbers {with one exception; the $1.5MM – $2.5MM price segment, sales were par or slightly above 2014 and prices were up very slightly – To see numbers & values by area Click Here} Why? As you have heard before it’s all about supply and demand. Even though our market is GOOD, or significantly better than 3-4 years ago, buyer demand continues to lag behind seasonal inventory levels. What does this do for values? Unless your home is a highly desirable trophy home which usually beats all the odds and sells for more, sellers may sit on the market unsold, unless they pay attention to current market trends and “price it right”. It is highly likely each month as we move into season, inventory will continue to grow as sellers who held their expectations too high last season and didn’t sell, plan to re-list their homes at the same price or slightly lower to be sure it sells, in addition to new sellers desiring to move up, move down, or list their homes and move away from the desert. My advice… get a jump start and List NOW… ahead of seasonal inventory levels, and price it right. Especially if you’re planning to buy another home in the area after yours sells, knowing that it’s currently a buyers’ market, you can take advantage of these conditions and buy “right” now. Remember your recurring expenses such as property taxes are based on the price you pay for your home.
Demand will eventually outpace inventory levels, and prices will raise as history repeats itself, though with conditions as they are, impending presidential elections, and economic uncertainty, I’m not confident we will see any significant changes anytime soon. If you have been thinking of buying or selling, and you’re not sure what to do, I welcome the opportunity to meet with you, discuss your options, and help you determine what is best for you.
More news… We’ve moved into our new office located at 74-890 HWY 111 Indian Wells. I welcome you to visit our highly professional office. Dave Kibbey & Associates along with HOM Sotheby’s International Realty is a recognized synergistic winning team, committed to providing clients the highest & best levels of Professionalism, along with the best Valley-wide, Countywide, and International exposure to be sure your home gets SOLD for the highest dollar the market will bear.
Exciting times ahead… I look forward to talking with you.
All the best!