Skip to main content

Real-estate market is tilting towards buyers' benefit

Real-estate market is tilting towards buyers' benefit in San Jose-Sunnyvale-Santa Clara metro area

  • Are you sitting on the sidelines and losing out on opportunity to snag value purchases in real-estate?
  • Are you waiting for the interest rates to come down?
  • Are you actually losing out on opportunity to buy real estate at a better deal?
If you have these questions, check out the below trends available for July 2024. The following review is for San Jose, Sunnyvale, Santa Clara CA metro area. But you can review the trends for your metro area of interest.

Median Listing Price is declining

The listing price being lower, you can find some great deals from distressed sellers who are motivated to sell at a discounted price.



Active Listings are increasing

Increase in active listings allows for higher options to select from. The higher active listings are also driven by less competition from other buyers. The higher interest rates are making people wait on the sidelines. But a savvy buyer can instead take the benefit of this situation for a longer term return on investment.


Median Days on Market is increasing

The houses staying on the market is indicative of slowing demand.

  • So if you are sitting on the sidelines, you might be losing out on opportunity to snag value purchases in real-estate, that will generate higher equity
  • While the interest rates are high, the prices are less competitive. You can leverage the fact that banks are wanting to lend money and you can negotiate rates and discounts for your mortgage. As well as some lenders are offering no-origination fee if you refinance within three years. So you can still take the benefit of lower rates, if that happens.
  • So you might not want to miss out on opportunity to buy real estate at a better deal.
If you would like to explore buying homes and making it a great investment, reach out to me and I would love to guide you through the process.

To review these charts you can visit: https://www.vishalkarnik.com and make selections for your metro area and the metric of interest.

Comments

Post a Comment

Popular posts from this blog

1031 Exchange in real-estate investments for capital gain tax deferral

What is a 1031 Exchange? A 1031 exchange is a swap of one real estate investment property for another that allows capital gains taxes to be deferred. Who should be aware about it? Folks who currently own or plan to own investment properties. But also current home owners who want to defer the capital gain taxes on their real estate property, by investing into investment properties in future.  Can you do a 1031 Exchange on primary residence? 1031 Exchange deferral is for investment properties. So by definition primary residence cannot be used for a 1031 Exchange. However, you can convert your primary residence into investment property for a period of 2 years by renting out the place and then doing a 1031 Exchange on the property. If you are married, you can defer up to $500,000 in capital gain taxes by doing a 1031 Exchange. What are the requirements? You need to purchase a like-kind property. But the definition of like-kind property is pretty flexible. The new property being purchas...
Post a Comment
Read more

Why Most Sellers Hire Real Estate Agents Today?

  Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk. According to the latest data from the  National Association of Realtors  (NAR), the number of homeowners selling without an agent has hit an all-time low ( see graph below ): And for the small number of homeowners who do decide to sell on their own, data shows they’re still not confident they’re making a good choice. A recent survey finds  three out of every four homeowners who don’t plan to use an agent have doubts about whether that’s actually the right decision . And here’s why. The market is changing – not in a bad way, just in a way that requires a smarter, more strategic approach.  And having a real estate expert in your corner really pays off. Here are just two of the ways an agent's expertise makes a difference. 1. Getting the ...
Post a Comment
Read more