#RealEstateTrends in #BAYAREA and #California 2017
In many large cities, home prices have outpaced income at an incredible rate. In Miami, for example, incomes have risen 16 percent, while home prices have increased 58 percent since early 1998. Boston home prices have gone up 89 percent, while incomes have increased only 22 percent. I tell all of my clients, that the market changes the week after the #SuperBowl.
Here is the lowest SFH (Single Family Home) in Castro Valley (MAP).
Even with a downturn in the real estate market looming on the horizon, home sales are still headed for another record year. The market is expected to fold yet again.
Why? Call me, let's talk.
The first sector to show slowing is the high-end home market. Because of big-ticket properties, house auctions nationwide have surged.
Low-interest rates are the only continuing positive trend of the housing market. Low rates average now less than 6 percent for 30-year fixed rate loans, the lowest since the 1960s.
Today in the San Francisco Business Times just posted an article: Forget the bubble: Is the Bay Area economy primed for a second wind?
"After years of growth, some people are worried the current economic expansion must be losing steam, but signs point to the opposite."
Wondering how is your neighborhood doing?
Or are you interested in possibly SELLING?
Or are you simply researching different areas or communities?
California's economy is going to go through a boom, I think this may be the case. I see the same #TRENDS for the entire state of California; we should see a double-digit REAL ESTATE increase in home prices/values for 2017.
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COLDWELL BANKER RESIDENTIAL BROKERAGE
Direct: 510.485.3893 | www.cervantesandassociates.com
21060 Redwood Road, Suite 100 | Castro Valley, California 94546 Coldwell Banker – BAY AREA/ CASTRO VALLEY
1550 Harbor Blvd, Suite 140, |West Sacramento California 95691 Coldwell Banker - SACRAMENTO/ TAHOE
Cervantes and Associates
Web page: www.cervantesandassociates.com
I am never too busy for you or any of your referrals.