You ask two questions - let me answer both of them:
Q1: How is housing market in Newark, CA?
A: The market in every east bay city, Newark included, is starting to slow down a bit. It's still very, very strong, but we're past the pinnacle of activity - at least for now. In practical terms, it means homes are staying on the market a bit longer, not getting as many multiple offers and there won't be as much of a bidding war pushing the price way past the asking price.
Here is a post that will provide you with a more detailed response to this question:
East Bay Housing Market Cooling Off: Top 5 Reasons
Q2: Is it still good time for seller?
A: It depends on WHY you are selling.
If you are moving up, it's a good time because there is a lot more inventory hitting the market right now. That means there will be more selection for you. Just a few short months ago, move-up buyers were having no problem selling their existing home but a very difficult time finding a replacement. It's much easier now.
If you are moving down, it's a good time because the spread between the home you are selling and the home you are buying will work in your favor. If prices keep going higher, the spread will actually improve more in your favor as the selling price keeps rising providing you with more equity to use on the other home. Although it will also be rising in price, it won't be at the same rate.
If you are selling and vacating the area, then now is a good time before the market has a chance to soften any more. I don't think it will burst like a bubble, but we may see a minor price correction. If you wait any longer, that could actually cost you some real equity when you sell.
If you are hoping to sell and rent and perhaps ride out the market, I don't believe it's the right time. The rental market has heated up and rents are increasing in many places. It might actually cost you more to rent than you are currently paying and you will no longer have the tax benefits you enjoy right now.
Hope that helps.
If you need to sell now and if you have a livable home you will need to have a realtor with a great marketing plan and eye for the market to get it out at the right price to get you into a multiple offer scenario.
You still need professional assistance for the best results. If you simply throw a property on the market because you think â€œit is a good time to sellâ€ your results will be sub-par. Preparation of the property, proper marketing, and professional help yield the best results.
Other than wanting a â€œgood time to sellâ€, what is your motivation? One does not simply wake up and say â€œI guess it is a good time to sell.â€ There has to be more to it than that.
Lots of multiple offers and bidding higher than asking price.
RE/MAX Active Realty.
4056 Decoto Road
Phone: (510) 676-4770
Fax: (510) 475-1966
It is a great time to sell your home right now in Newark.
Newark is a wanted area for many folks.
I sold a home on the island in the Newark Lake area and there were many responses to my listing, I just helped that sellers daughter buy a home two weeks ago also.
I also sold a school on Birch St. with many responses to that listing also.
What I find is that people who have grown up in Newark really love Newark so when they or their families go to buy a home they try to stay in their home town.
Also the commuters from across the bay love the easy access to Newark so yes it is a very good time to sell your home.
Of course, you need an experienced Broker to guide you through every step of the process.
Please view my Client Testimonials on my website at http://CustomBayHomes.com
It would be my pleasure to help you.
Real Estate Collaborative Specialist-Divorce
Broker Consultant, e-Pro Certified
CRS-Certified Residential Specialist
Luxury Home Specialist
ASR-Accredited Seller Representative
GRI-Graduate, Realtor Institute
SRES-Seniors Real Estate Specialist
ABR-Accredited Buyer Representative
ASP-Accredited Staging Professional
Better Homes and Gardens Real Estate, Mason-McDuffie
43430 Mission Blvd., Fremont, CA. 94539
(Corner of Mission & Mission Tierra)
Direct (510)-492-4872, Fax (510)-217-4249
Visit my Website at http://CustomBayHomes.com
dre license # 01253795
We have a listing in Newark right now off Crocus and we get phone calls on it everyday. We are trying very hard to get more exposure on it by telling our buyers about it.
How does your home compare to our current listing? Ours is a 4bed/2ba 1899sqft listed at $579,000.
Yes, the market is still good in the Tri-City, including Newark. It is still a good time to sell.
I am sure you will get a lot of "yes" replies, however the market is slower a little. We would be best to know more information and then we would be able to give you more details in the market activity in your neighborhood.
If you are thinking about selling, you should discuss this question with your Broker. If you do not have a Broker, you might consider interviewing a few and see how they market their properties.
Brian Ripp, CRS, GRI
Check my web site: http://www.BrianRipp.com
Real Estate Market Weekly Update Webcast: http://realtytimes.com/REUv/BrianRipp
Realtor since 1985
DRE Lic. 00886348