As we contemplate the new year ahead, we know that California Real Estate cannot continue to bounce back another 25% as it did in 2013. Due to the recent run up in interest rate and the anticipated tapering in the Fed's bond buying program, CA Sales are forecast to grow another 9% (see CAR Slide3).
CAR Housing Forecast
http://www.car.org/3550/pdf/econpdfs/CAR_Forecast_2013-09_slide_3.pdf
However, given the backdrop of the increasing momentum in the general economy, more jobs, lower unemployment, it is quite possible that we will see 13% sales increases especially in the high-tech Silicon Valley. Already there is anecdotal evidence of young software engineering families being forced to move further and further away from the South of Market area of San Francisco to the East Bay and South Bay. Yesterday I showed rental property to a young software family who decided to move to South San Jose just to be able to afford rents of around $2,000/month for a luxury remodelled 2 bed/1ba condo. Another family were planning to move out of their rental in Berkeley and move out to Walnut Creek, Danville, Pleasanton just to afford a basic 3 bed/2ba single family home. So my analysis of the market situation today leads me to believe that we will see larger double-digit sales and sales price increases in 2014 especially in some hot areas of the South Bay and East Bay - I will be happy to assist you find something suitable provided you start now before the market heats up even more. As a Mortgage Broker, I can also pre-qualify you and find you a competitive loan once we have found your new home. But you have to act now. Call me (408)644 4680
CAR Housing Forecast
http://www.car.org/3550/pdf/econpdfs/CAR_Forecast_2013-09_slide_3.pdf
However, given the backdrop of the increasing momentum in the general economy, more jobs, lower unemployment, it is quite possible that we will see 13% sales increases especially in the high-tech Silicon Valley. Already there is anecdotal evidence of young software engineering families being forced to move further and further away from the South of Market area of San Francisco to the East Bay and South Bay. Yesterday I showed rental property to a young software family who decided to move to South San Jose just to be able to afford rents of around $2,000/month for a luxury remodelled 2 bed/1ba condo. Another family were planning to move out of their rental in Berkeley and move out to Walnut Creek, Danville, Pleasanton just to afford a basic 3 bed/2ba single family home. So my analysis of the market situation today leads me to believe that we will see larger double-digit sales and sales price increases in 2014 especially in some hot areas of the South Bay and East Bay - I will be happy to assist you find something suitable provided you start now before the market heats up even more. As a Mortgage Broker, I can also pre-qualify you and find you a competitive loan once we have found your new home. But you have to act now. Call me (408)644 4680
