We are almost ten years into the most incredible real estate market cycle in history, anywhere and the mid peninsula is the eye of the storm.   Even though most say it’s a sellers market, guess what, record appreciation year after year, new hybrid mortgages and record low interest rates have made it the best time to become a real estate investor or homeowner in history.

The expectations and mind set of buyers and sellers and how real estate is marketed, bought and sold has probably changed forever.   Properties are marketed on the internet to millions, realtors multiple listing information is available to the public, buyers are pre-approved, almost all sales are “As-Is”, multiple offers, offers over the asking price, quick closes, few or  no contingencies and free rent backs to sellers!  If that’s not enough, clients are paying thousands of dollars to have a professional decorate and stage their home before they go on the market and guess what?  It works!  Some buyers are so taken with this method that it is an absolute fact that this nets the sellers more money, better offers, and quicker closes of escrow in many cases.  

The market continues to be very strong and active in almost all areas and price ranges.  Historically since 1997, January through May has been the best time to sell, ultra high demand and near insanity offer-wise.  During the following summer and fall months the market has slowed and stabilized only slightly without prices really decreasing. Increasing inventory, school being out, summer vacations and busy bay  area lifestyles seem to be the main causes.  Once Halloween comes around, forget it, even though inventory is low and sellers should be more desperate, interest from buyers seems almost non existent.  Bad weather and the holidays seem to be obvious reasons, but only once during this run in 2001 did prices dip in the last quarter and that seemed to have been much more a reflection of  9-11 and plummeting stock market and once January 2002 rolled around it was going like gangbusters again.  As for now and in the near future the market appears very strong and there does not appear to be any reasons why these patterns and trends won’t continue.