Thanks to your support, we are on our track to have our best year ever in this confusing 2020. A lot of that has to do with your referrals, and a lot of it has to do with the marketplace. This leads me to our market update today.
A lot of people have been asking me about our market lately and why it’s so strong. We don’t have all the answers, but we know a few for sure. The No. 1 reason for our market’s strength is interest rates. We have clients that are locking in 30-year loans at 2.75%. Some are getting them even lower.
What does this mean if you’re a buyer? You could be finding a house you love at an interest rate and monthly payment that you’ll never see again. If you’re a seller, the strong demand allows you to move up, move down, etc. The buyer will be able to afford more, which makes your home more valuable. When rates go back up, that will affect home values negatively.
More people are working from home these days and trying to get away from the city. If you know someone from the Bay Area or L.A. who is looking for a change of scenery, you now know why.
Here’s the best example I can give you about the opportunity in this market. We had a client who sold a property and had to buy another for tax purposes. They were looking for rental properties to purchase and couldn’t find anything online. However, I remembered that I knew someone who was talking about selling their rental property. I showed the buyer the property once, they loved it, and bought it.
If you’re thinking of moving or know someone who is, there hasn’t been a much better time than this and we can use our vast resources and knowledge of this market to help you find opportunities you may not have with another team. We’ve done this for so long that we take it for granted, but we have solutions to help anyone in any situation buy, sell, or invest in real estate.
If you have any questions for me about this market or about real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.