San Diego is mentioned in this cnbc piece, which wraps up with a quote that could become a self-fulfilling prophecy – “Buyers are in the drivers seat”:
Jim Klinge
Klinge Realty Group
Broker-Associate, Compass
Are you looking for an experienced agent to help you buy or sell a home?
Contact Jim the Realtor!
- 682 S. Coast Hwy 101, Suite #110
Encinitas, CA 92024 - (858) 997-3801 call or text
- klingerealty@gmail.com
CA DRE #01527365, CA DRE #00873197
That’s where you come in Jim,
So is inventory above historical norms’s
or just getting back to more normal levels?
Of course this all make for great headlines but does it really mean anything.
Will/should sellers cave or just pull the listing until February?
(It is low-ball season).
If qcom start’s laying off then I will start worrying.
Higher-end prices are flat and that’s not likely to change next year. Whatever is stopping a house (price or condition) from selling this year isn’t going to change next year. Might as well get it done now!
Have you had any recent experiences to share with sellers that just wouldn’t come to market for buyers you were representing? How about the other side, with sellers you were representing that might be stuck on a price they couldnt get? Words from the street are what most of us are here for.
It is what you’d expect, and it’s always been this way. Sellers always want more, and buyers want to pay less. Occasionally somebody gives and a house sells.
Jim, I liked your last comment. That is exactly what is going on with me currently 🙂 Keep guessing I am buyer or seller.
But here are my thoughts on interest rates and home prices:
– Interest rates will hover around same till end of 2015.
– Reason being inflation is not going to increase and fed is not going to jump the gun and raise interest rates.
– If company earnings fall down, then everyone piles down onto treasures, so interest rates go down and home price increases.
Now other side:
– home prices are expensive. They are because of interest rates.
– so you like a home, you think you can lock it within 4%, i would do it.
– If interest rates increases, then you will get deals. But remember it has to be atleast 4.5 %. That means ur Treasury 10yr has to increase by .5% . Very long shot. .25% change is 20% probability currently.
– If you see a bad house, who is giving good deal. DOnt buy it . You might end up with crap home, when interest rates rise eventually ( 2018-2020).
-Realestate/booms are 8 yr cycles. 🙂
I would like to hear other thoughts, who are either a buyer/seller.
BTW..forgot to add.
– Qcom layoffs. I am ex-qc. House cleanup is done. if you dont know someone who got effected, then you are not following qc. They might again do it if they think they cant get money from china, but give it at least an year.
Let’s talk about it after the next video, coming later today.