Market Update |September 2017 Southern California

On this Market Update we will be disusing: Are we at the top of the market? Some say we are. Me, I don’t think so. One thing we can agree on is it’s a good time to sell since it’s a traditional Sellers Market right now.

We have a few more years of market gains, especially in affordable areas in Southern California. In the upper-end market, we see a lot of price decreases. Prices for high-end homes may have peaked for a while in the Inland Empire. Financing for high-end homes has been loosening up and lower down payment loans are more prevalent than a year ago. I would think this would lend itself to an increase in upper-end purchase activity, but we see the opposite.

The purpose of this Market Update post is to inform you if you been thinking of selling it’s probably a good time to do it to ensure solid equity gains. If you are a gambling man/woman, you can probably hold on another few years and make out like a bandit. There is not one right answer for everyone either. There’s an analysis that needs to take place for each individual person.

On the flip side, I get often asked, “Teresa, is it a good time to buy”. My response is if the rents equal the mortgage payment it’s a STRONG buy recommendation. The best way to answer this question though is often a combination of many factors.

If you need someone to help you evaluate whether or not it’s a good time to buy or sell, call me and let’s figure it out together if it’s a good time for you or not. (909) 920-3500. For more Market Updates check my YouTube Channel and Blog.