Selling Your Saratoga California Home
When is it the optimum time to buy or sell? Purchasing a house is a major investment. With planning, this valuable asset will appreciate every year.
But how do you get the big picture? Fortunately, real estate trends are predictable because these develop over a long period, unlike the stock market, which is rather volatile.
The first thing you will need to do is to read and track real estate market reports of the California Association of Realtors or the California Building Industry Association, and the briefs created by housing analyst companies.
Once you have identified the following key indicators you will have a better grasp of the general trends in California’s real estate market.
THE FIVE KEY INDICATORS TO WATCH
When interest rates rise, buyers shy away. Conversely, lowered interest rates attract more buyers.
The higher the number of building permits issued, the higher the demand for houses.
This key indicator refers to the total number of homes sold. In the law of supply and demand, when there are few buyers, real estate prices fall.
Another factor to consider is the growing inventory of available houses in certain counties in California, which is changing the market dynamics. What was once a sellers market is slowly turning into a buyers market. And this changes as the prices rise and supply reduces.
This refers to the failure of homeowners to pay their monthly mortgage fees. One downside to this is that many Californian homeowners are choosing to have a bad credit report, rather than to keep paying fees for a home whose value has been inflated by as much as 20 percent more.
When foreclosure sales are on an upswing, consumer spending is down and consumer debt levels have risen. In the real estate market, this has meant that many financially strapped homeowners are selling their homes at lower prices. The other contributable factors are inflation, the rising prices of gasoline, federal budget deficit, and interest rates.
The key indicators confirm that sales levels in California and the demand for houses remains strong and steady. Always do proper research when selling your home in Saratoga California. It is vital to understand, in order to get the most money for the sale.
Realtor/Keller Williams Cupertino
20230 Stevens Creek Blvd. Ste. E,
Cupertino CA 95014
Phone (408) 559-1069
Fax (408) 850-6901