167 S. San Antonio Road Los Altos, CA 94022
Broker Associate, SRES, CSA Mountain View Rotary Club Member CalBRE# 00927794
(650) 996-0123
Presented by Tori Ann Atwell, Your Mountain View Real Estate Specialist & Neighbor
OLD MOUNTAIN VIEW
tatwell@apr.com www.ToriSellsRealEstate.com www.OldMtViewHomes.com
www.OldMtViewHomes.com February 2019 Real Estate Market Report
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2018 IN REVIEW As is my annual practice, I am providing my input on the past year’s local Real Estate Market. Most of the data out there is from a national standpoint, or based on County Data, which does not truly reflect our local/niche Market in Mountain View and Surrounding towns. Here’s a closer look at our local area. 2018 started off as the past few years have, with a red-hot Seller’s Market with properties selling for amounts beyond reasonable expectation and with numerous offers–then in April it stopped: We began seeing fewer multiple offers, less over bids, and longer time frames on the market. As we entered Summer then progressed through Fall then into Winter the trend held and worsened, ruling out the slowdown being the normal Summer market slowing. Leading to the assertation that the time has come that we all knew would come eventually–Our crazy market has now ended.
TO MAKE A COUPLE POINTS CLEAR: No, the market is NOT crashing! But properties are not going to continue to jump in value as they have been the past few years. If you were a Seller hoping to cash out at the top of the Market, you are 9 months too late now.
If you are a Seller wanting a good price for your property and have realistic expectations, it is still a great time to sell. If you are a Buyer, it is an even better time to buy that it was last year. Interest rates are still good, and you will likely not have to pay the crazy overbids of the past few years.
2019 IS GOING TO BE A GREAT YEAR TO BUY OR SELL REAL ESTATE, AND ESPECIALLY GOOD FOR THOSE WHO HAVE BEEN THINKING OF “MOVING UP.” Here’s a quick nutshell of what to continue to expect in 2019 from 2018: • Homes not priced correctly or marketed correctly are going to be on the market for weeks, if not months. • Overpriced homes will be doing price reductions to sell. • We are starting to see more Sellers doing Pest work and other repairs to properties and more Buyers asking for repairs. • Properly Priced and Marketed properties still are, and will continue to sell quicker and at higher price points than overpriced or poorly marketed properties. A warning to the wise. If you are considering Buying or Selling, hire the RIGHT agent! To not do so is a big mistake and is risky. Remember, any agent who has not been in the business for eight or more years has never worked a normal market and simply does not have the skill sets to navigate this changing environment. Those offering deep discounts are best steered clear of; this is a market where professionalism and skill is needed, and the market is no longer going to do an Agent’s job for them.
Johnathan and Angela-Marie, Call me today at (650) 996-0123 for more information and an in-depth, personalized real estate consultation.
©Google 2019
Prepared Especially for Johnathan and Angela-Marie Williamson