Interest rates are dropping and buyers are looking to purchase while they can make best use of their resources. Here in San Francisco, inventory is still low, however there has recently been some resistance in regards to price pushing and this article brings up some good points. Here is a link to the full article and listed below are some of the most pertinent ideas as related to our area.
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- Buyers should only consider the most recent comps, which means the last three months, because that is the most accurate reflection of where the market is.
- Location, location, location. Real estate is still very neighborhood-driven. While you might see a softening market in some areas, others may still be in a strong seller’s market.
- Days on market – which means how long a property has been waiting to sell. If you’re hoping to buy in an area where days on market are staying low, you’ll have to be prepared to act a little faster. But in areas where this number has started creeping up, you might be able to look around a little more.
- Interest rates are predicted to rise in 2019 and 2020, so buyers would be wise to shop for and lock in their interest rate as soon as possible.
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– Sue
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