Welcome to the Fred Sed Group October 2018 SoCal Real Estate Market Update!
We are now officially in the 4th quarter of the year and for almost six months now we’ve been talking with you about a potential market correction or “shift” in the real estate market.
As of the first week of June, the market correction officially arrived and every Real Estate market across the United States is reporting the same thing as what’s happening in Southern California. They are reporting that their Real Estate market has cooled and buyers now have more home inventory to choose from.
It’s Not 2008 All Over Again
Although the market has cooled off, the big thing that most economists agree on is that it’s not 2008 all over again. Prices have “flatlined” temporarily for sure but the good news is that it’s still possible for homeowners in Southern California or elsewhere nationwide to sell their homes for what they are worth.
Advice for Sellers
If you’ve been planning on selling your Southern California home, the keys to success with getting it sold are the same as they were before the market cooled:
- Price your home appropriately – Take the time to research comparable properties in your area to get an idea for what your home is really worth before you list it.
- Make sure your home shows well – Always take the time to de-clutter, clean, paint and do everything possible to make sure that your home shows well before you list it.
- Work with an experienced real estate agent – During a buyers market, it’s more important than ever before for homeowners to work with agents who understand what’s going on in the real estate market and have the skills to market homes correctly online.
Advice for Buyers
There’s no doubt that now is a great time to buy a home because you have more home options to choose from and interest rates are still historically low but as with other years, the most important piece of advice that we can offer you is to buy right.
What does this mean? “Buy right” means that you should know your budget and make sure that you can afford your monthly payment. You should also be certain that the home you’re purchasing will be a house that you can live comfortably in for the next 4-7 years.
Contact the Fred Sed Group
At the Fred Sed Group, we’ve helped hundreds of buyers and sellers in Southern California with their real estate transactions and we look forward to the opportunity of serving you.
To get started with buying or selling a home in Southern California contact us today at (800) 921-9231 or connect with us online.