PAUL’S REAL ESTATE NEWSLETTER – OCTOBER 2014

The market has shifted!  Not an extreme shift, but a shift from the frenzied, Seller’s Market we’ve enjoyed since 2012, to more of a normal market of moderate but sustainable appreciation.  This shift isn’t a big surprise to anyone except a few sellers who still have their overpriced homes on the market.  Those sellers are wondering why they haven’t yet received an offer.  It was just a few months ago that their neighbor’s homes were selling in just a few days, often times with multiple offers, at or above list price. As we head into the holiday season, seasonal market factors come into play and the remaining, unrealistic sellers will have to make substantial price reductions.

Buyer Opportunity:  Buying during the slower, winter months offers a great opportunity.  With fewer buyers in the market, it’s unlikely you will end up in a bidding war with another buyer.  Additionally, home prices are slightly lower, due to the lower buyer demand.  Combined with the current  lower mortgage interest rates (which are now in the low 4’s), buyers taking advantage of this market will be able to afford “more home,” whether it be a larger home, better location, or higher quality.

Please reference the real estate articles and charts I’ve assembled for you in the Real Estate News section below.