October 2022 Market Updates
October 2022 Market Reports Disclaimer: The information provided below was generated from MLS Stats and Market Reports.The included data were from sold properties dated Oct1, 2022 to Oct 31, 2022. Click here: San Francisco Bay Area October Market Updates The real estate market continues to be less competitive this October and will likely be until the rest of 2022 and into 2023. According to C.A.R, the state's housing sales decreased by 26.6% this month compared to the same period last year. The Bay Area's housing inventory is gradually growing, which is bringing the market to a slightly steady state. Buyers who lost bids or waited out in the highly competitive market will benefit from the reduced competition. However, finding suitable houses in the Bay Area in 2022 would still be challenging given that high-interest rates continue to drive up housing prices to all-time highs, preventing potential buyers from putting in offers.
September Updates: Sell immediately or Buy NOW!
September 2022 Market Reports Disclaimer: The information provided below was generated from MLS Stats and Market Reports. The included data were from sold properties dated Sept 1, 2022 to Sept 30, 2022. Real estate was still slow in September 2022. The low supply of homes and high mortgage rates may still pose a significant challenge for prospective buyers and sellers. Current trends reflect a persistent fall in housing sales and prices, which will further decline in the next months." Based on the current real estate market, we recommend for sellers who are thinking of selling within the next 2-3 years, sell immediately! Currently, the market has been on a constant downhill as the Feds are fighting against inflation. For buyers, it is still a good time to buy before interest rates go up again in Nov and Dec. Currently 30 year fixed rate is around 6-6.5%, and rumor is around that it may go up to 8% by the end of this year and it will probably not going to come down to 6% in a while. We always recommend: "Marry the house, date the rates". As a buyer, if you see a home you really like, try to make an offer! There is no harm in that, put a lower offer and see what happens. If you want to know more about the current real estate market, call me anytime! Alameda County Market SummarySan Francisco County Market SummarySan Mateo County Market SummarySanta Clara County Market Summary
July is Slow! See you in August!
July 2022 Market Snapshots Disclaimer: The information provided below was generated from MLS Stats and Market Reports. The included data were from sold properties dated July 1, 2022, to July 29, 2022.With interest rates continuing to go up and families traveling during summer, real estate has reached the slowest season since June 2020. Alameda County Market Summary Santa Clara County Market Summary San Francisco County Market Summary San Mateo County Market Summary JUST SOLD: 841 Rollins Rd, Burlingame Another miracle made in this ever turbulent market!!! It took the previous seller & agent 7 months to sell this home in 2020 when the market was booming wildly, yet it only took us 1 MONTH to sell it now, and with such a challenging location: the property faces the 101 freeway and is on a very busy street. We sold it with a non-contingency offer, closed in 30 days. Miracle!Despite the busy traffic, many buyers were concerned with air quality and noise level from this home, so we did multiple rounds of meticulous testing, with an open, fair report sent to all potential buyers before the offer was due.The seller lived in the property the whole time during the sale, so we utilized the seller’s furniture, and did not cost the seller $1 for any staging. Yet, did an extraordinary job presenting this home.We went above and beyond to promote this home in any way we could, and adjusted our strategy accordingly when feedback was received. A deep understanding of market trends enables us to advise sellers to take the most effective approach.We worked day and night, even on Easter Day when very few buyers came by. So happy and proud that all our hard work paid off!https://lnkd.in/gGFSnKUFWorried you can't sell your home in this market? Throw it at me! I can handle it! 💪🏻😄🏡 Lina Yang Real Estate Group is NOW Expanding to Lease Listings It can be profitable to rent out a property, but there are costs associated with that profitability such as maintenance, repairs, finding new tenants, following regulations, paying taxes, and more. Hiring a realtor/broker to handle transactions makes it easier than ever to market the property. Our in-depth knowledge of the local market enables us to help landlords reach their goals with the least amount of hassle. Having a powerful network not only gives us the advantage of providing the resources needed but also allows us to provide our clients with qualified local renters or buyers so we can ensure a quick and smooth close.
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