As I mentioned earlier this year the real estate market here in the Bay Area was on fire, multiple offers, sales prices considerably over asking price etc.. I also mentioned I felt it would not last. However, I did not think it would happen so quickly. I thought the market would slow down in 2014 or possibly 2015. However, the market has already started to experience some head winds. Properties are taking longer to sell and I’m starting to see price reductions advertised. Good quality, well priced homes are selling but the others are not. I think the reason it slowed quicker than I thought is that interest rates have risen, making it harder to qualify and the general economy is still very sluggish making it a more difficult decision for the consumer to take that big plunge and buy a home.
If you are thinking of renting your home or investment property, including multiple units, and want to know what the rental value is please contact our office and we will do a complimentary “rental market analysis” of your property and get it to you right away.
Tip Of The Month:
If you are considering hiring Perchak Properties to manage your property please YELP us. You will find some good reviews and some not good reviews. However, if you go to the bottom of the page to filtered review screen you will see many positive reviews and only a few negative ones. I’m very curious as to why the bad reviews continue to pop up on the first page and the good reviews seem to be relegated to the second page where you have to click the filtered review button. I have talked to numerous small business owners like myself and find that the majority of them are skeptical of the YELP reviews. Also, YELP has contacted my office about advertising with their site. I have considered it, but to date, have not done so. I’m wondering what would happen if I did spend money and advertise with YELP if that would help my many positive reviews miraculously surface on the front page. JUST CURIOUS.