Tri Valley Real Estate Market is HOT this Summer
Whether you’re buying or selling, you may have heard that this is the time to do so. As temperatures rise in the Tri-Valley area, so is the real estate market. Houses in Dublin and Pleasanton are going for over $900K while Livermore homes are staying high at over 700K, and these houses are not sitting on the market for very long.
What are some buying trends?
If you’re curious as to who is buying, it may be interesting to note that first-time homebuyers account for 34 percent of the sales. These first-time buyers make up such a big part of the market, that now may be the perfect time to sell that condo you’ve been holding onto for the last decade.
Why do we mention condos and not bigger homes? Simply because a lot of the first-time buyers you will encounter are in their early 30s, or younger. And since a lot of these Millennials aren’t concentrating on having kids, a condo or townhome is a great option for them.
According to the NAR, the percentage of first-time buyers has grown 4 percent, up from 30 percent in May of 2016.
Parents help their kids
Despite constant growth in the job market, it’s been said that the young people of today are making less money compared to what their parents made. That may be the reason why we see so many parents helping out with down payments so their kids can buy their first home.
The Millennials are creating a solid foundation for this increase in first-time buyers.
In fact, according to the NAR, only 21 percent of first-time buyers could avoid a private mortgage insurance, or PMI.
Now is the best time to sell
If you’re in the Tri-Valley area, and have been putting off selling your home, condo, or townhome, now is the time to sell. While summer time tends to bring more buyers, this summer is unusually hot for the area’s real estate market. Especially because the interest rates are still low, now is the best time to get the best deal for your home.
No matter if you’re looking to buy, sell, or do both, you should always enlist the services of an effective real estate agent. You want to look for an agent that is a self-motivator, has an engaging personality, possesses an attention to detail, and the ability to hustle.
If you’re tired of your home sitting on the market, or you’re looking for a realtor with all of the above qualities and more, look no further than the team at Century 21 Cornerstone Realtors. Contact us today to see how we can help you buy and/or sell today.