December Market Update

Happy holidays folks! All is good in the land of real estate! We had an amazing Thanksgiving with our families and friends and Hatch Realty Group is finishing off the year strong. We were able to sell all of our current listings this month (except one condo that will re-list in the spring-time or go on the rental market) and we just listed a new single family home in San Leandro which is having its first open house this Sunday from 1-4.

Usually this time of the year is when things really start to slow down. But what is really interesting to me is that I see new listings hit the market every day this late in the year, and some are really nice homes too! 

You can bet that anyone selling right now is motivated. If they don’t have the luxury to wait until the spring time when the market heats up again, that usually means the seller is just ready to unload. If you are even thinking about buying, now is the opportune time to get some deals and for buyers to buy with a little more comfort. I was able to get two condo buyers in contract this month with full contingencies in place and they had several units to choose from. As we have seen in past years, this won’t last long and after the holidays; the market is going to heat up again and quick. We see this lull every year and anyone who purchases during the holidays is pretty much guaranteed a "good buy” simply because they don’t have the competition driving the prices up.

When speaking to many investors and would be buyers, many are waiting for “the crash.” I honestly do not think that is happening anytime soon. With Facebook opening up headquarters in the East Bay and interest rates staying at an all time low, the market  is not crashing. People are still moving into the Bay Area and everyone needs homes. It is slowing down for sure, but I feel the market easing into a comfortable price range. If you’re saving up and just can’t afford to buy now, keep doing so, but keep your eyes peeled and be ready to  make a move if you see a home you like. There are so many loan programs out there right now, that if you found a property you liked, there could likely be a way for you to buy it. In addition, some properties are sitting on the market so long that many sellers are wiling to accept contingencies just to get in contract. No two properties are exactly a like so if you see one you like, its definitely worth giving it a shot. Builders are giving holiday incentives for anyone looking to buy now so if you’re thinking about it, it won’t hurt to look. 

Merry Christmas and Happy New Year Everyone! Wishing you all the best during this holiday season! Hope to see you soon!

Sincerely,

Monica Sagullo, Broker

PS: If you’re on the look out for an investment property, 30% downpayment is generally the break even point with the rental market in the Bay Area. Park your money and have someone else pay down the investment for you. Property appreciation will be the icing on the cake. Let me know if this is something you are considering and we can keep an eye out for you!