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San Diego Real Estate Update – April 2019

Junk on the Market: It’s Spring Cleaning Time!

Yes you have heard us over the last 5 months sounding like a broken record talking about how inventory levels are up and buyer activity is down… however that is quickly changing! We have seen buyers activity skyrocket in recent weeks which has made a huge impact on the amount of Quality homes on the market.

What is this from??? Interest rates! Thanks to promises kept by The Federal Reserve, we’ve had low interest rates starting in January 2019 and they’ve stayed down in the low 4’s… yes you heard me right, interest rates right now are at 4.13%. What us Real Estate professionals know is that a lower interest rate is sometimes more important than a lower purchase price!

Now lets talk about what is happening with inventory… We do have higher inventory levels due to the build up that happened during the last quarter of 2018 and the start of 2019. Perhaps due to skeptical buyers, probably due to rising interest rates… However from our (Boots on the ground) prospective, what really happened was San Diego homeowners rushed to put their homes on the market and threw a high price tag on it just to see if they could get it. What that means now is, quite frankly, we’re seeing some “junk” sitting on the market and inflating our inventory levels. However please rest assured… we still have extremely high demand from buyers right now… however that demand is for quality properties that show well,  are priced right, and are marketed properly!

As spring and summer months are notorious for hot sales markets, we can expect a rising buyer demand these upcoming weeks and if sellers tend to their listing like their wallets depend on it, we can predict a lot of this inventory to produce sales contracts soon across San Diego county.

Buyers Advice:  This is an opportune time for buyers to hit the market – take advantage of more inventory selection, less competition, more buying power & better chances in finding your perfect home (and potentially negotiate for a great deal, too)! Looking to Buy Your New Home in 2019 or 2020 ?  Click to Start Your Home Search Today!

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Sellers Advice:  We’ve been finding many buyers lately who are out there actively searching these days seem to be primarily interested in buying homes that already look nice inside & out – Buyers are consistently searching for only these “Turn-Key” homes. However the majority of the homes on the market right now are NOT in the best of condition. We recommend folks put some money into their home to upgrade, renovate or repair (ONLY if cost to improve will serve to increase home’s assessed value, etc.) If you plan to offer your property as a buyers’ “Move-in Ready” or Turn-Key product, make sure you assess your overall presentation – buyers are getting picky these days so you want to stand out; look fresh, clean & tidy as best you can before listing. Quick tips for DIY listing prep: 1) simplify decor, 2) choose neutral tones & 3) De-Clutter, De-Clutter, De-Clutter! Put your best foot forward when prepping your home for sale – Call today to learn more about our award-winning concierge home selling services, or click to website for more seller help!

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