Real Estate Market Improving on Central Coast!

 The good news is that we are  seeing significant mprovement in our real estate market on  the Central Coast of CA.  Sales are up, mortgage rates are low (and may go even lower), inventory is short and prices appear to be rising in certain "hot spots" due to buyer demand.

 

Although we should recognize that things are definitely better,  I predict that it will still be awhile before we see home values increase by any leaps or bounds.  I believe that home prices will continue to rise slowly but steadily over the next few years. 

 

Today's seller should review all of their options before making a decision to sell.  If you want to sell so that you can buy another home, keep in mind that the home you buy has also been deeply discounted.  When prices go up, so will the home that you are purchasing.  If the home you are purchasing costs more than the one you are selling, you will probably come out ahead in the end.

 

Another option to consider is a remodel.   Think about what you would want if you did purchase another home. If your present home could be expanded or remodeled to satisfy your family's needs, you may want to consider staying where you are for now.

 

If you need to sell and owe more on your mortgage than your home is worth, a short sale is definitely the way to go in most cases.  Short sales have become much easier over the past 2 years but be sure that you use an agent who has done a lot of these and can help to minimize the work necessary on your end!

 

Nancy Puder is the broker and owner of Signature Properties, a prestigious real estate Sales and Management firm in Arroyo Grande, CA.  You may contact her at Nancy@NancyPuder.com or (805)710-2415  Your calls are always welcome!