In addition to all the news about what the storms are doing, the wet weather is also keeping the Scotts Valley real estate market dry as many of those thinking of selling are holding off until the rains subside. To which I say, who can blame them?
It is tough to show homes right now with people tracking in mud and water, as well as those properties with land as is the case with many properties here in the Scotts Valley and surrounding areas.
Right now there are only 10 single-family homes and only 3 condos and townhouses that are AVAILABLE in Scotts Valley .
Here are my thoughts…
DON’T RUSH IT – TIMING IS EVERYTHING
If I was a seller, I would make sure I held off for a few more days until the worst is over. One BIG reason why is that if home buyers are not seeing your home in this weather and you are not wanting to show it at the moment, the “Days on Market” will continue to go up and it is no secret that homes with more days on the market tend to sell for a little less than “fresh” homes.
Why? Because home buyers and their agents always ask, before they want to write an offer, “How long has the home been on the market?” And if the home has been on the market a little longer than the norm, many view it as an opportunity for a good deal because the sellers may be more motivated.
I am not talking months, just wait a few more days until all is clear. In fact, there are a few more days of sunshine as we may have a little break from the rains so I would get a photographer out there to take photos if your home is close to being ready as much of the landscaping and grass it at its greenest right now due to it being watered for the past few weeks now. That way when you are ready, you are READY!
Right now is also a perfect time to talk to your agent, start gathering facts and figures on the local market and start getting your game plan together.
WHEN WILL IT PICK UP?
Every year, people ask me when the market will take off again and every year I always say, right around and right after the Super Bowl and I am going to say the same thing again. Right around the end of January and going into February is when things start moving once again. I say this every year and it has almost never failed me.
RATES COME DOWN
If you read my most recent article, I said that interest rates had shot up about 1% since the election, but that I thought that they would come back down a little. And that is exactly what has happened as rates came down a little with 30 year fixed rate mortgages being somewhere between 4.125-4.25%, give or take a little.
Happy Selling and Happy Buying!
REALTOR® since 1986
BRE # 00921165
American Dream Realty in SV
5522 Scotts Valley Drive
Scotts Valley, CA. 95066
831-252-3959 Direct Line
Robert Aldana is a 30+ year licensed real estate veteran with American Dream Realty in Scotts Valley, and also a long-term resident and homeowner here in town. He is the founder of MyScottsValley.com and the popular local news and events page at Facebook.com/MyScottsValley.
Robert was also a nationally syndicated real estate journalist and was a highly sought after interviewee on the topic of real estate by local, national and even international media, in addition to appearing on HGTV and local NBC’s “Best of the Bay”.
Many of his articles and interviews can still be read at RobertAldana.com, RealtyTimes.com, Forbes.com, among many other real estate and finance news sites and publications.