When buying or selling real estate, we have all heard the longtime real estate mantra of “location, location, location”, and today more than ever, this stands to be so true.
Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty.
During the last couple of years during the pandemic, there was a national frenzy to purchase real estate as buyers spent thousands of dollars on homes just about everywhere. This created multiple offer scenarios and drove real estate prices up around the country.
However, today there doesn’t seem to be a national housing market but rather a very regionalized market with different scenarios happening around the country. As mortgage rates continue to increase some markets are experiencing a slowdown while others are heating up. Home prices are accelerating in some areas while other markets are seeing a decrease. Bidding wars in one neighborhood may not be happening in another nearby.
The real estate market is all about location. But why is that? According to Ali Wolf, chief economist with Zonda says, “Since interest rates have risen, inflation is higher and there is economic uncertainty, we’re reverting back to very localized housing markets. There is no national housing market as every single city and street has its unique housing market.” And this is definitely true of the San Francisco East Bay!
Of course with all this being said, there is still one big caveat, the low supply of housing has buyers still willing to pay a premium for move-in ready homes in communities with good schools and near big cities.
If you are planning to enter the housing market and are feeling a bit confused about what is going on, it is best to consult an experienced real estate team. Feel free to connect with me so I can guide you through this important decision.
And if you’re someone that needs to sell a home, ask me about my home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them include my super duper digital marketing that… no one else does in our area. I’m Tanja and I sell homes. I offer simplified and transparent choices!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?