Monday Market Update: CA Housing Sentiment Index
How are you feeling about the market? See how it compares to what recently surveyed CA residents had to say!
Real estate is personal. While it is always a financial decision, you never make a decision about what to do without addressing how you feel. Is it a good time to buy? Is it a good time to buy this home? Is it the right time to sell? Is there a benefit to selling sooner rather than later, or vice versa?
This week, we wanted to share the just-released California Association of Realtors (CAR)® Housing Sentiment Index so that you can see how recently surveyed residents of our state feel about the market. We then encourage you to ask yourself how you feel about the market.
Worried about buying high?
Of course! Buying in a sellers’ market comes with a set of reasonable concerns. No one wants to overpay, however, the pace of home prices could mean paying more for the same house in 3, 6 or 12 months as well. In addition, buying while prices are rising is a fast way to build equity. The critical considerations are of course ensuring that you stay within your budget (it rarely makes sense to buy at any cost!), and to think about how long you are likely to stay in the home.
Worried about selling now vs. selling later?
This is the other common concern that sellers are facing. 'I might make a great ROI now, but could I make a better one later?' The answer to this one is once again a very personal choice. If home prices are also rising where you want to buy, waiting could mean making more AND paying more down the road. The other unknowns are how coming inventory could increase your selling competition, or if rising interest rates could knock more buyers out of the market. The ‘best’ time to make a move is when it makes sense for you. If you can sell your home and get where you want & need to be, the ‘what ifs’ are simply background noise!
If you would like to talk about how your own housing sentiments have changed as of late, I am always here to help! Let’s talk soon!
Bobbi
All my best,
Bobbi Decker
DRE#00607999
Broker Associate
650.346.5352 cell
650.577.3127 efax
www.bobbidecker.com
NAR Instructor….“Designations Create Distinctions”
CIPS, SRS, ABR, CRS, SRES, GRI, CLHMS, REI, AHWD, RSPS, MSLG
Bobbi Decker & Associates fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. For more information, please visit: http://portal.hud.gov/
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