What's Critical About the Next 90 Days in Real Estate? [VIDEO]

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As we enter the fall and winter months, the next 90 days are crucial if you are looking to buy or sell real estate in Silicon Valley. Here's why:

Buyers

• Inventory has remained steady, which is unusual for this time of year. Sellers have been motivated by a recent run-up in prices, so we have higher than normal inventory heading into the fall and winter months.
• Price appreciation is slowing down. It's still high and continues to rise, but the market as a whole is slowing down a bit.
• Seasonal buyers are pulling out of the market. This means there is significantly less competition vying for great homes.

Sellers

• Prices are at all-time highs. We just recently surpassed the all-time highs for Silicon Valley we saw in 2005.
• It's still a seller's market. Even though many buyers have pulled out of the market, inventory is still between one and two months. A seller's market is anything under 6 months, so sellers clearly have an advantage right now.
• Interest rates are still low. It's looking like rates will rise sometime in 2015. There's a great opportunity right now to sell your home at top market value and lock in a low interest rate on a new home.

There's no telling what will happen when rates rise next year. That's why the next 90 days are crucial for Silicon Valley real estate. If you are interested in taking advantage of our current conditions or have any questions about the market, don't hesitate to reach out to us. We'll be right here, ready to help you create a better life through real estate!