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First Quarter is in the books & We’re in a H🔥t Market

The first quarter of 2017 is in the books, so what happened? Well… the market has outdone everyone’s predictions.

We are seeing month over month price increases, we are seeing buyer activity at an all time high, and we aren’t seeing any signs of this slowing down. Why? Because we don’t have enough inventory. I think this is due to the common concern I keep hearing from potential sellers… they are concerned if they sell, they won’t be able to find their next home. (If this is you, read our sellers advice)
With all that being said, here are the stats to back this up:

Closed Sales decreased 0.8% for Detached homes & 14.1% for Attached homes, however inventory decreased 29.9% for Detached homes and 34.7% for Attached homes which caused the  Median Sales Price to increase 7.9% to $565,000! DOM (Days on Market) decreased 13.6% for Detached homes & 17.1% for Attached. All this is telling us we are in a HOT market!

SELLERS ADVICE

One common concern we’re hearing from contingent home sellers is the fear of not finding their next home once they sell (a feeling that quickly disappears once they receive multiple high offers on their house), so we’ve put in place some security blankets for our home-sellers:


# 1 – Make the Sale of their home contingent on them finding their next home.

# 2 – Do a “Rent-Back” which will allow them to stay in their home for 30-90 days.

# 3 – Have a plan to move into an AirBnB while putting their belongings into storage… This works great!


Find out How much you could sell your home for!?

What to do when you get multiple offers? Read Here


BUYERS ADVICE

The competitive market is making it particularly difficult for first-time & contingent buyers…So, How do you make yourself stand out from the crowd?# 1 – Ask your mortgage lender to get you FULLY APPROVED (not pre-approved -Fully Approved).

# 2 – Stay ACTIVE, be AGGRESSIVE on Price & Terms.

# 3 – HIRE a REALTOR, a True Agent with proven experience and positive reviews.


Stay Active & Setup Automated Home Search Updates Here!

  1. 2 beds, 2 full, 1 half baths
    Home size: 1,279 sq ft
  2. 2 beds, 2 full baths
    Home size: 1,063 sq ft
  3. 3 beds, 2 full baths
    Home size: 1,232 sq ft
    Lot size: 3,999 sqft
  4. 2 beds, 2 full, 1 half baths
    Home size: 1,348 sq ft
    Lot size: 1,306 sqft
  5. 3 beds, 2 full baths
    Home size: 1,134 sq ft
    Lot size: 7,499 sqft
  6. 5 beds, 3 full baths
    Home size: 2,465 sq ft
    Lot size: 24,829 sqft
  7. 3 beds, 2 full baths
    Home size: 958 sq ft

See all City of San Diego Real Estate.
(all data current as of 4/26/2017)

Listing information deemed reliable but not guaranteed. Read full disclaimer.

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