Friday, July 11, 2014
Home buyers and (some) home sellers are coming out of the woodwork in the San Fernando Valley
Perhaps buyers realized that lots of home prices might come down a bit in the next few months. That often starts to happen in early July. Maybe sellers realized that prices have peaked for the year, too. And then, interest rates are still low and haven't seen the predicted rise.
Nobody can predict the market, but I would recommend that sellers sell now, especially in the areas of Burbank and Studio City -- people want to buy homes in good school districts before their kids start school. And, if interest rates do go up, as all experts predict they will by the end of the year, that will have a negative effect on home prices. And I would recommend that buyers buy now -- interest rates won't be this low much longer.