by David Watkins
1. Competition Will Soon Rise
This past year, buyers did not see too many listings in the 91302 area. According to the California Association of Realtors, state sales reached the lowest level since April 2008. However, 2019 is expected to be a different story. Active listings have increased state wide by 6,303 in the month of January alone. With inventory increasing, sellers will have to remain mindful when pricing their home competitively. One of the most common questions sellers have is about choosing the right time to list their home. Many often wait until Summer, assuming it will provide the best return, but every case is different and buyers are actively searching right now. It takes the right Calabasas| Hidden Hills realtor to assure you get the most out of the sale of your home especially before seller competition rises.
2. Mortgage Rates have
reached a New Low
Just this past month, 30-year fixed mortgage rates averaged 4.37% despite predictions that they’d continue to rise past December 2018. According to Freddie Mac, the 15-year adjustable mortgage-rate averaged at 3.81% Both excluding fees associated with the loan. While rates may attract qualified buyers, it’s important to choose an experienced and local agent to match your home with the best possible offer. Reasonable offers may come in but it is important to price your home competitively and accurately to attract the best possible offer and receive the most out of the sale of your home. “I always remind buyers of the importance of speaking to a lender before they even look at homes,” says David Watkins, “especially right now. I encourage buyers to get pre-approved before they file their taxes.” The biggest mistake he often sees buyers make is making big purchases like cars while they are in escrow. “This is valuable information that should be provided by your agent.” A local and knowledgeable 91302 agent will be able to assist you in the sale of your home.
3. It’s a Balanced Market
Some may argue that it’s a buyers’ market and while that may be the case nationally, the Calabasas| Hidden Hills market is distinctive. “I’d say the Calabasas and Hidden Hills market is in definitely in the level playing field,” Watkins said. Now, that doesn’t mean sellers will not receive the most out of the sale of their home. It takes an experienced local agent to ensure that you do. With buyers quickly flooding the market, there is an increased opportunity to make a great return on your investment this Spring. Sellers will definitely see more buyers on the market and buyers may equally see an increase in inventory. When it comes to closing a home, you need a local and experienced realtor who not only knows the market and current inventory but also knows of upcoming homes to market.
Timing and the right realtor can make all the difference and now is a perfect time. For more information regarding the value of your Calabasas | Hidden Hills home, call David Watkins at 818.970.2946 | Most Homes Closed in Calabasas 2018.