Spring is in the air, and just like wild blackberries… Spring is the best and busiest season for real estate! If you’ve been thinking about buying or selling real estate, you’re probably wondering: What’s happening in the market right now? Let’s talk about it!
Hi, I’m Tanja Odzak, eXp Realty. I love helping people. I’m a Senior Level Realtor and I help people sell and buy homes right here in the East Bay!
First, what is going on with mortgage rates for buyers? The Fed is being very patient about lowering the Fed Funds rate, which means that mortgage interest rates are largely holding steady as they’re influenced by it. Waiting for the “perfect” rate could mean missing out on the right home. You can always think about refinancing down the road if rates dip further.
For sellers, buyers are still very active, but they’re being more cautious about affordability. Pricing your home correctly is crucial to attract serious offers.
Let’s talk about inventory. To date, there are *definitely* more homes on the market, but it’s still tight.
This Spring, we’re finally seeing more homes hit the market, but according to data we’re still mostly in a seller’s market. More listings mean buyers have options, but demand is still strong, especially in desirable areas like Bay Area. We are also seeing that home prices aren’t dropping, but they’re not skyrocketing either. Most experts predict a steady 3-5% price appreciation increase this year. Proper pricing, staging, home preparations, and *marketing* are key if you’re a seller.
Buyers, if you’re waiting for prices to crash, you could be waiting a LONG time. Act now while there are more homes to choose from and prices are steady. AND – You can be a little more patient and wait for the right home.
Finally, how is the economy affecting the market? The current job market and growing wages are helping buyers stay in the game. However, inflation is still a concern, and affecting affordability. Some regions of the country with higher costs of living (like here in California & New York) are seeing slower growth as buyers look for more affordable states. While states in the south and northeast are experiencing rapid growth due to prices.
If you would like more specific data on what’s happening in your part of the East Bay, Call me today and let’s talk about it! I’m Tanja and I sell homes. I’m a seasoned East Bay expert with a 5-star rating, and I’d love to strategize a plan for you to seize an opportunity in this market. Let’s get you going, Call me today!
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?
Click here—> I WANT TO GAIN ACCESS TO THE *HOME BUYER* SEMINAR NOW
Click here—> I WANT TO GAIN ACCESS TO THE *HOME SELLER* SEMINAR NOW