4 real estate trends for summer 2013
If the past few months are any indication, especially in Santa Barbara, there are 4 major trends in real estate to keep your eye on this summer. These trends can have an impact on you whether you are a buyer or a seller.
- Low interest rates. Rates remain at near historic lows but most expect them to rise as the year progresses.
- Low inventory. Currently there is an extremely low inventory of houses available especially in coveted neighborhoods.
- Rising prices. This low inventory has contributed to rising prices of real estate that we haven’t experienced in years.
- Bidding wars. Low inventory, low interest rates and rising prices have led to bidding wars in many cases. This is where more than one buyer puts an offer in on a property and they accelerate the price.
It has gotten so intense in some areas that homebuyers have taken it upon themselves to knock on doors asking if the owners would be willing to sell. Look, you don’t have to feel like you are going it alone. I’m Karen Spechler of Coldwell Banker Real Estate and I understand what is going on with this market. I can help you achieve your real estate goals. Contact me today and let’s work together to help you get to where you want to be.