At your service,
Certified Distressed Property Expert
Yes, many markets across the country are hearing a "heart beat" that could be the sign of life returning to a battered Re market but unfortunately it goes much deeper. unemployment, trade deficit, national debt, decaying federal institutions such as the USPS & social security, national health, foreign aid etc.
Yes, there is decreasing inventory, multiple offers, and increasing asking prices but just how long this activity can be sustained remains to be seen.
Yes, we will recover, but the climb may be more difficult than many wish to believe.....
My best answer is...
The market, thus far, has seen some great homes, low interest rates, anxious buyers, and low inventory. Altogether, it portends a sellers market. But I feel the tide is changing, and we'll be seeing more sellers in about three weeks. In addition, I've seen a lot of buyers simply "leave" the market, waiting for more inventory, so there is market pressure keeping prices from skyrocketing.
My best bet is that the market will become more exciting for buyers in about 4 weeks, and while the prices will remain higher, they will also be steady for much of the Bay Area when summer truly hits.
But we'll see. My crystal ball has been on the fritz since 2008, so we'll have to watch. My stats, however, seem to tell me that the market is changing even again.
I have been successful with my buyers in this market. It takes a lot of counseling, preparation, some creativity, a lot patience and determination.
Have an amazing day!