The market in San Diego right now is absolutely insane. Sellers are experiencing multiple offers, waived appraisals, and more.
In fact, we just had a client who bought a property five months ago for $280,000, but then immediately got a job transfer and sold it. We listed the home right away, and ended up selling it for $310,000. We didn’t think the appraisal would come back good, but to our surprise it did. This buyer turned seller got $30,000 in appreciation in just five months. Isn’t that amazing?
If you’re a seller in this market, I can’t stress enough that this won’t last forever. There will be a correction in the market at some point. We don’t expect the market to tank, but there will be some changes. The next year or two is the optimal time for selling. If you’ve been thinking about it, I suggest you start taking more concrete steps now.
A lot of buyers out there think there is just too much competition out there for them to compete with. I couldn’t begin to tell you how dead wrong that approach is. If you’ve been thinking of buying for the last few years and keep telling yourself you should have bought last year, you are in that situation once again. Signing a lease for the next six months could be the biggest mistake of your life. Stay strong, be resilient, and ensure you get the home of your dreams. There’s a very high likelihood that you’ll get significant equity over the next year.
I just wanted to make sure you understood what exactly is happening in the market right now. Your window is narrowing by the day so if you have any questions about buying or selling, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.