Hello fellow Valley Village Homeowners,
We have finally arrived at fall after a long & hot summer. Fall brings us Halloween, but the seasonal cooling of our housing market is nothing to be scared of. If the time is right for you personally to sell your property, there will still be an active pool of buyers to appeal to.
Speaking of buying and selling, with October comes my 3rd quarter market update. Quarters are good inflection points to review market activity and look at the overall health of the housing market here in VALLEY VILLAGE.
The summer season was quite busy for us, as you will see in the enclosed sales recap. Additionally, you can find my local events flyer for October here: https://bit.ly/EventsOct21
If you are considering selling your property, it’s important to understand the challenges facing buyers. Aside from home prices, the 2nd biggest factor in a buyer’s ability to make a purchase are interest rates. It is important to note that interest rates rose sharply in September. This is significant because the pool of buyers starts to shrink as the interest rates rise, making correct pricing imperative when bringing a property to the market. Read NAR’s article here: https://bit.ly/rates102021
The fantastic news is that soaring home prices have pushed up the average California homeowner’s equity by $116,000 in the past year. This means that if you were to sell your home now, you would be seeing the highest equity gain in the nation! You can read more about it here: https://bit.ly/CAequity2021
Managing your greatest asset, your property, is a big responsibility. Knowing that, I do not take my role in helping you lightly. As your fellow VALLEY VILLAGE homeowner, please know that I’m here to help!
Warmest regards,
Luke
