A Great Opportunity
We have all read and heard about the soft market and how “it is no longer a seller’s market” and home sales have fallen as well as new home starts. So if it isn’t a seller’s market it must be a buyer’s market. This may be the perfect time for buyers to take advantage of the large inventory of properties; it is certainly true that the inventory of lake homes and off-water homes is above last year’s level.
There are some other factors for buyers to take into consideration, there is an apparent lowering of prices on some homes coupled with mortgage rates at a stall and appearing to fall a little. Sellers are also offering interest rate buy-downs, sharing of closing costs, pricing incentives and even gifts like home warranties, house cleaning for six months and fishing boats. I personally like the fishing boat idea.
The good news for buyers is that all this may translate into being able to afford a house now that may have been a future dream as well as a large inventory from which to choose. Prices may not go any lower in the future but in most areas, particularly our area, properties are still appreciating at no less than 4-6 percent. Overall the next six months just may provide some great opportunities. My advice to sellers is to get dressed for the dance; translated that means get your property looking great.
The air is crisp and fresh in the mornings and the fall colors are at near peak so plan to spend some time in the Hayward area soon.
Have a great weekend and
Enjoy, Life is Good!
Gary A. Nathan
