Well, it depends on if your a buyer or seller. If you're a seller, the market is going swimmingly. If you're a buyer, it a bit of an uphill battle. That's the truth, you probably won't hear that from other agents. Most buyers the days are first timers and are around or under the $200,000 price level and it is extremely competitive in Carmichaell, Fair Oaks, and most of the Sacramento area. The reason being is that our inventory is quite low and prices are also low. Couple that with interest rates near 5% and you've got the potential for a bidding war.
That said, over the $300,000 level things aren't so competitive. The so called "move up buyer" is almost non existent these days and that the price level that most move up buyers are looking at.
People are bidding up properties because they know they are getting a good deal and that this depressed market is not going to last much longer.
So, as an insider, here's my recommendation for you if you'rethinking of buying or selling a home soon. If you're a buyer get pre qualified with a good bank, decide if you're truly committed to owning your own home, and connect with a dedicated real estate consultant. If you're a seller, start cleaning and de-cluttering your home,start working on your next move, and start interview agents to list your home.
its a very interesting market out there - ddefinitely not normal. If you have questions or would like to chat, give me a call or send me an email. My info's on the upper left.
Cheers!
