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Temecula Valley Buyer or Seller Market
Hi everyone, Michel Jones with Coldwell Banker. I’m coming to you today from my office at home with my incompetent office assistant ginger Jones. Ginger is oftentimes the feature of my weenie Wednesday segment on Facebook. Hey, I wanted to in all seriousness, share some information with you. I am so grateful for the calls the text that emails from friends, past clients, neighbors, current clients, future clients, asking about what the market is doing. And the questions are wonderful. Please keep them coming. I love to talk about real estate. But what I’m going to start doing is on a weekly basis, share with you some type of statistic or market information so that we’re all best informed during these challenging times. Late last week, the National Association of Realtors released a statistic that stated 76% of all agents are reporting that sellers are not reducing their prices. They don’t have to They have equity in their homes. But most importantly, it is a great time to list your home. And the reason for that is we don’t have enough inventory. So we have less inventory than we’ve had in a long time. We have low interest rates. And most importantly, we have some sellers who have been a little hesitant to list because they’re concerned about their safety absolutely understandable. But what we know is our buyers are more serious right now, under current conditions. We know that the buyers are required to sign what’s called a paid form a property entry advisory form, indicating that they will take all precautions necessary to make sure that they’re protecting everyone’s safety when they’re in that home on a home tour. Also, not all agents are doing this but I am doing this to protect myself. I am requiring a lenders pre approval letter upfront before that buyer’s agent can show that property that ensure ensures everyone that we also have qualified Serious buyers. Case in point I was able to put two homes rather quickly into escrow just this week alone. So is it a good time to sell? I would say absolutely yes. If you’re comfortable having showings, and if you’re comfortable selling your home right now, if your home is vacant, and it’s a rental property or investment property, it’s even easier to show under current conditions. And while unemployment rates have soared, we did find through this most recent statistic statistic report from the National Association of Realtors, we did find that actually four out of five Americans are still employed. So we have buyers in our current market. Please stay well. Please stay safe. Please feel free to reach out to me anytime if you’d like to talk about the market. And I hope you continue to take good care of yourself. Have a wonderful week ahead. Bye for now.
Temecula Valley Buyer or Seller Market?
